Carthy speaks after a very positive and successful ECB Event.
Sinn Féin MEP for the Midlands North West, Matt Carthy, has welcomed the positive, proactive and effective solutions which came from the ECB event which he co-hosted in the European Parliament yesterday. However, he has voiced his concerns that the ECB are still in fact accountable to no one.
“Since my election as an MEP, I have continuously highlighted the toxic and undemocratic nature of the ECB. In particular, I have continued to emphasis the need for the ECB to take responsibility for the part which they played in foisting tens of billions of banking debt onto the shoulders of Irish people.
“Unfortunately due to the undemocratic structures of the ECB and the fact that they are accountable to no one, the ECB continue to abdicate responsibility for their role in bailing out the Irish banks.
Carthy, a member of the European Parliament's Economic & Monetary Affairs Committee, continued:
“It must be remembered that former European Central Bank president Jean-Claude Trichet warned the Irish Government that a “bomb would go off” in Dublin if the Government burned bondholders.
“This is an absolute serious subversion of democratic rights. The Irish people were sacrificed so that the bloated corpses of Irish banks could be saved.
“What makes this more disconcerting is that the ECB can continue to act with impunity as their structures are designed in such a manner that means that they are answerable to no one.
“It is preposterous that Jean-Claude Trichet, the former President of the ECB, has been appointed as the chairman of the newly formed ECB Ethics Committee. If it wasn't so serious, it would be laughable.
“This appointment not only stinks of cronyism but is another example of the boy's club mentality in action in Europe.
“A particularly notable outcome of the event which was held yesterday in the European Parliament yesterday, is that concrete and measurable solutions were put forward as to how this dynamic can be changed.
“I look forward to continuing to use my role as an MEP and as member of the Economic and Monetary Affairs Committee to ensure that these solutions are actioned." ENDS
Photo: Matt Carthy MEP,Martina Anderson MEP and Pearse Doherty TD pictured after the conference in the European Parliament in Brussels. Pearse addressed the conference in the context of the ECBs role in the Irish Banking Crisis.