Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-12-01-Speech-4-037-000"
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"en.20111201.3.4-037-000"2
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"Mr President, Mr Draghi, the statutory role of the European Central Bank, to maintain price stability without heed for the repercussions on the real economy, has proven to be catastrophic under the present circumstances. The ECB annual report for 2010 emphasises as much. I propose that the role of the European Central Bank should be changed.
Secondly, in 2010, the European Central Bank hid behind inflation and, as a result: firstly, it failed to halt rocketing spreads; secondly, it failed to halt action by the speculation mafia in credit rating agencies, which it has incorporated into its charter; thirdly, it kept interest rates high – you, Mr Draghi, reduced them somewhat recently – in a period of recession, higher than in the United States and higher than in Great Britain.
Finally, the independence of the European Central Bank is a very moot point. Independent bankers are being ‘canonised’ to the point of being made prime ministers, as we have seen in two countries. Consequently, the European Central Bank is being politically manipulated. Political parliamentary control of the European Central Bank needs to change."@en1
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