Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-01-16-Speech-2-045"
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"en.20010116.4.2-045"2
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"Mr President, ladies and gentlemen, my point is that the European Central Bank is going through a rough patch, what with mounting criticism, the fall in the euro against the dollar, the lack of confidence in the guidelines being issued and the unnecessary sniping against the Bank, which is a luxury neither the European Bank nor the European system can afford. It is not enough for Caesar's wife to be respectable, she must also appear to be respectable. I see the European Central Bank as Caesar's wife and she is respectable, but she must make more of an effort to show the outside world that she is respectable. Today, if the truth be told, quite a few of our partners are not overly keen on the euro. We must try not to give others an excuse to join their ranks; we must create the potential for the euro to win more supporters who will then accede to the euro zone.
I would also point out, as regards the famous bonus which has caused such a stir, that if there is justification for paying every employee at the European Central Bank an annual bonus of 9% of their salary, then 38% over a period of 54 months comes out at 8.5% per annum. So I fail to see what there is to criticise about something which is within the bounds of both what is acceptable and what has been planned. Presumably the figures have been misinterpreted. However, I would point out that, whatever is done must be done in the best, most transparent, most efficient manner and with the maximum possible credibility
the outside world."@en1
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