Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-25-Speech-4-026"

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"en.20100325.3.4-026"2
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"Mr President, as the shadow rapporteur from the Group of the European People’s Party (Christian Democrats) for the European Central Bank annual report for 2008, I am very happy with the report that is in front of us now. As a result of the close and effective cooperation with the rapporteur Mr Scicluna and, above all, with Mr Tremosa from the Group of the Alliance of Liberals and Democrats for Europe, I believe that we have produced a very balanced commentary on the ECB annual report for 2008. Mr Trichet and Mr Rehn were of the same opinion. I think that the ECB was faced with particularly difficult tasks in 2008, which was the first year of the crisis. Given these challenges, in my view, the ECB has acted effectively and, above all, very prudently. Mr Scicluna’s report reflects this approach. However, the ECB is not in a simple situation and this is not likely to change in the near future. On the one hand, we are very far from having overcome the crisis and, on the other hand, the planned regulatory measures present new challenges and problems for the ECB. It is important for the ECB to continue to ensure the stability of the euro area in the months and years to come. Like a tanker on the high seas, the ECB must stay on the correct course. On the other hand – Mr Trichet, I have already mentioned this in the last but one discussion on monetary policy – the independence of the European Central Bank must be maintained, in particular, given its future inclusion in the European Systemic Risk Board. This is of paramount importance because you, as President, and other members of the ECB will become heavily involved in this area. This should be an important criterion for future assessments of other measures taken by the central bank. It is essential for us to bear this point in mind when considering other reports in the next few years."@en1
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