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Protection of Euro and austerity policies trumps Human Rights- Lynn Boylan MEP

18 June, 2015 - by Senator Lynn Boylan

Dublin MEP Lynn Boylan has questioned claims made by Mario Draghi, President of the European Central Bank (ECB), that the ECB is an, “apolitical body”.

Speaking today, the Sinn Féin representative said:

“The ECB is an EU institution and like all EU institutions it is required to have the protection of human rights at its core as stated in the Treaty of the European Union.

“As part of the troika, the ECB was instrumental in formulating and supervising the implementation of the draconian austerity measures for Ireland and now Greece.

“The ECB has a pivotal role to play in the current Greek crisis, with talks ongoing and with increasing pressure on the Greek banking sector, the ECB should think carefully about its social responsibilities before it pulls the plug on emergency funding.

“I submitted a number of questions to the EU Commission and the ECB seeking to clarify how the ECB balances its dual responsibilities of managing inflation and respecting the Charter of Fundamental Rights of the European Union.

“Namely I asked how in times of fiscal consolidation, does the ECB's primary objective of maintaining price stability sit with achieving the objectives of the European Union on full employment, social progress, high levels of protection and economic, social and territorial cohesion?

The actions of the ECB and the Troika are in direct conflict with the Charter of Fundamental Rights and I want the Commission and the ECB to be at least upfront with citizens about the contradictions in their actions.

“I have asked the Commission to make clear, with respect to the ECB, which takes precedence, Article 127 (1) TFEU on price stability or the European Charter of Fundamental Rights?”

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