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Draghi dialogue with Irish MEP's 'A farce' - Carthy

10 November, 2015 - by Matt Carthy MEP

Sinn Féin MEP Matt Carthy will this Thursday be among MEPs engaging in a Monetary Dialogue with the President of the European Central Bank (ECB), Mario Draghi.  This engagement had previously been billed as an opportunity for the ECB president to recompense for the body's failure to cooperate with the Irish Oireachtas banking enquiry.

Speaking ahead of the meeting, Mr Carthy said

"The failure of the ECB to formally engage with the Oireachtas banking enquiry is scandalous showing in stark terms the absolute disregard the Bank has for national democratic institutions. 

"In their response to criticism the ECB stated that President Draghi would address this matter with the Irish members of the European Parliament's Economic and Monetary Affairs committee and would facilitate a dialogue on matters relating to the Irish banking crisis.  It was clearly implied that the discussion would be Ireland specific.

"However, as I feared in my initial response to the announcement, it has now been confirmed that the engagement will simply be the regular Monetary Dialogue with President Draghi whereby MEP's will be provided with a five-minute slot in which they must put the question and receive a response from the ECB representative.  If a question being put takes two minutes Mr. Draghi must conclude his response within another three.  This is hardly the type of forum in which the Irish people can expect to hear the answers they deserve from a central player in the banking and economic crisis.  Indeed, the discussion will not even be focused solely on Ireland as previously indicated.  It short it is a farcical response on the part of the ECB.

"This position is typical of the EU in its failure to be transparent.  The ECB, as an EU institution, should be accountable to European citizens including the people of Ireland.  Continuing to avoid meaningfully answering questions from democratically elected representatives will simply reaffirm the growing view that the ECB feels it can act outside democratic and legal frameworks.

"As a member of the Economic and Monetary Affairs (ECON) Committee I will use the limited opportunity to put pertinent questions to Mr. Draghi on Thursday but unfortunately I fear that the responses that the Irish people require will remain unanswered after the hearing".


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