Local view for "http://purl.org/linkedpolitics/eu/plenary/1999-10-27-Speech-3-118"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"1999-10-27"^^xsd:date2
dcterms:Is Part Of	lp_eu:Votes2
dcterms:Language	"fr"^^xsd:language2
lpv:document identification number	"en.19991027.3.3-118"2
lpv:hasSubsequent	lp_eu:1999-10-27-Speech-3-1202
lpv:speaker	lp:Gérard Caudron2
lpv:spokenAs	member; Delegation to the EU-Poland Joint Parliamentary Committee (1999-10-06--2002-01-14)3 unknown; Parti socialiste (1999-07-20--2002-07-09)3 member; Committee on Industry, External Trade, Research and Energy (1999-07-21--2002-01-14)3 substitute; Delegation to the EU-Cyprus Joint Parliamentary Committee (1999-10-08--2002-01-14)3 substitute; Committee on Foreign Affairs, Human Rights, Common Security and Defence Policy (1999-07-22--2002-01-14)3 member_of_the_bureau; PES (1999-07-20--2002-01-16)3
lpv:translated text	"As a former member of the Committee on Economic and Monetary Affairs, I read attentively the first annual report of the European Bank whose work I try to monitor closely. This is the reason why I cannot but approve the action of the rapporteur in deploring the lack of transparency in the ECB. Some progress has certainly been achieved, but this falls a long way short in comparison to the information made available by other central banks. Considering its high degree of autonomy, it is essential for the ECB to ensure a high level of transparency regarding decision-making on monetary policy. This would provide a guarantee of its credibility. I find it deplorable, for example, that Mr Duisenberg is opposed to the publication of detailed minutes of meetings, even though this is common practice in many central banks. I support the proposal of the Committee on Economic and Monetary Affairs requesting that brief reports of the meetings of the Governing Council should be made available to the EP, outlining the arguments “for” or “against” the decisions taken and the reasons for these decisions. I think it essential, furthermore, that, in order to promote effective collaboration between the ECB and the EP, the ECB President should be willing to brief Parliament regarding any significant decision on monetary policy. I shall also insist on one requirement which the EP expressed with regard to the ECB. The Bank must endeavour to consider monetary policy in terms of sustainable growth and employment. The objective of price stability is not an end in itself; monetary policy must contribute to growth and the creation of jobs. I am taking advantage of this opportunity to express my views on the ECB to mention a problem which I feel strongly about, and which I have had to denounce on several occasions, the bank charges which some banks add to euro transactions. These problems are far from being resolved and they are still affecting European citizens within the euro area. An initiative must be taken as quickly as possible to put an end to these practices which have been denounced on many occasions by the European Parliament and the European Commission."@en1

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