Local view for "http://purl.org/linkedpolitics/eu/plenary/2003-07-03-Speech-4-121"

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"en.20030703.5.4-121"2
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". The discussion on the annual report of the European Central Bank, with the visit by the President of the ECB, is the only time each year when we are not left with the impression that the note-issuing bank for 12 of the 15 Member States has been privatised. Whereas this type of bank used to be nationalised in order to enable greater political control over policy, politics is now being left behind. Interest rates, exchange rates, the implications for vulnerable regions, relations with the United States of America, and the position of the developing world are thus largely being decided outside parliamentary democracy. This also applies to the influence of the ECB and the Stability and Growth Pact on pensions, social security and the level of public service provision. The rapporteur, Mr Blokland, rightly shows that the success or failure of the euro should not only be assessed in terms of the speed of introduction of the euro banknotes and coins at the start of 2002, but also in terms of price increases for the provision of services. I will gladly support him in his endeavours to have inflation forecasts, the influence of Member States' governments, and especially reporting on all meetings of the Governing Council published, including dissenting opinions and the balance of votes, and the obtaining of greater influence over the composition of the Governing Council on the part of Parliament. This is the only way we can prevent the ECB from developing into an instrument that is at odds with the majority of the inhabitants of the EU."@en1

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