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Mario Draghi taken to task in Economics committee


19 Feb 2013


EU Priorities 2020
Euro & Finance

GUE/NGL MEPs grilled Mario Draghi about both his role as chief of the European Central Bank (ECB) and his position of chair of the European Systemic Risk Board (ESRB) at a meeting with the Parliament's Economic affairs committee yesterday.

Marisa Matias challenged Draghi on economic policy based solely on low interest rates and stated that a "fiscal policy for growth" was needed.

Matias also addressed the issue of liquidity: "Conditionality must also be applied to banks and not only to Member States so that banks can receive money from the ECB. This would allow them to give better credit to SMEs and families."

As part of a discussion with Draghi on the ESRB's risk assessment on the European and Global financial system, Nikos Chountis questioned Draghi on the so-called 'multipliers' that the flawed economic model being applied in Greece is based on.

He added: "The only true fact is that all Greek people know very well that these policies and the austerity measures they impose lead to more poverty, deeper recession and bigger deficits."

GUE/NGL Press Contacts:
Emily Macintosh +32 470 85 05 08

Gay Kavanagh +32 473 84 23 20

European United Left / Nordic Green Left
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