Local view for "http://purl.org/linkedpolitics/eu/plenary/2003-06-03-Speech-2-107"

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". I supported this report, which reviews the logic hitherto underlying European Union Macro-financial Assistance (MFA) to third countries, with a view to proposing a more structured approach and, in particular, guaranteeing democratic legitimacy and a fundamental principle of accountability. The fact is that we often know nothing about how MFA is handled once it is transferred directly into the budget of the beneficiary country’s central bank. Above and beyond that, moreover, given the exceptional character of MFA, it should be an occasional, short-term and one-off subsidy, in contrast to current practice in several beneficiary countries. I also think that it would be a positive step to make MFA exceptional by definition, for example, and to transform it, through suitable inspection provisions, into a crisis prevention system. Additionally, like the rapporteur, whose approach I warmly applaud, I think that the decision-making process, follow-up and assessment should be carried out with the greatest openness."@en1

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