Second part of the Q&A during the meeting between the MEPs from the Economic and Monetary Affairs Committee and Christine Lagarde, European Central Bank President, on the subject of the regular monetary dialogue as well as the ECB’s revised inflation target and the consequences of a rapid increase in housing costs.

European Central Bank

monetary dialogue with the ECB (T)

Committee on Economic and Monetary Affairs

LAGARDE, Christine (FR)

TINAGLI, Irene (S&D, IT)

Monetary Dialogue with Christine Lagarde, President of the European Central Bank: Q&A (2/2) - ECON Committee

SOUNDBITE (English), Adriana MALDONADO L&#211;PEZ (S&amp;D, ES), Question on China's real estate market and how the potential default of the Evergrande Group might affect markets in Europe.

SOUNDBITE (English), Christine LAGARDE, President of the European Central Bank Answer that analyzes the current situation in China and that explains how the hypotesis of a spill-over effect in European markets from the Evergrande default are contained for the time being.

SOUNDBITE (English), Aurore LALUCQ (S&amp;D, FR) Question on how the ECB plans to achieve financial stability and reduce inflatation without also considering the ecological transition and green monetary policy could pose some issues down the road.

SOUNDBITE (English), Christine LAGARDE, President of the European Central Bank Answer explaining how the ECB is actually working to make the fight to climate change part of its agenda as one of its main secondary objectives.

SOUNDBITE (English), Caroline NAGTEGAAL (Renew, NL) Question on the potentially negative impact on real markets derived from the prolonged use of QE by the ECB in a time of growing inflation.

SOUNDBITE (English), Christine LAGARDE, President of the European Central Bank Answer explaing how the ECB objective is to deliver price stability and how this is the ultimate principle guiding both the Pandemic Emergency programme and the use of QE.

SOUNDBITE (English), Georgios KYRTSOS (EPP, EL) Question on the different approaches taken by the ECB and the Federal Reserve in managing the current inflation in light of the recent comments coming from the U.S. Trasure Secretary that wage inflaction will not be tamed untill the end of the Covid Crisis.

SOUNDBITE (English), Christine LAGARDE, President of the European Central Bank Answer explaining how the current situation in the U.S. is not comparable to the one in Europe because of the different economic scenario of the two regions at the beggining of the Pandemic Crisis. Furthermore, it is also analyzed how the U.S. and Europe are now facing two different types of inflatition that are not equivalent.

SOUNDBITE (English), Paul TANG (S&D, NL) Questions on the Glasgow Agreement, and on the importance that rating agencies will have in ensuring that the importance of climate risks are integrated in the assessments of financial health. Furthermore, the role of the ECB, and of european legislators in general, in integrating climate risk as part of the mandate of rating agencies is discussed.

SOUNDBITE (English), Christine LAGARDE, President of the European Central Bank Answer explaining how the actual critical role in assessing the climate risk will fall on auditing firms. Furthermore, the fundamental and pioneer role played by the EP is discussed.

SOUNDBITE (English), Ernest URTASUN (Greens/ALE, ES) Question on the principle of accountability and on the relations between the EP and the ECB.

SOUNDBITE (English), Christine LAGARDE, President of the European Central Bank Question analysing the complex nature of the ongoing dialogue between the two institutions.

SOUNDBITE (English), Eugen JURZYCA (ECR, SK) Question on the possible correlation between the end of the austerity measures across Europe at the beginning the Covid Crisis and the current growing inflatition.

SOUNDBITE (English), Christine LAGARDE, President of the European Central Bank Answer confirming the ECB analysis that correlates the current inflation with the global production slowdowns generated by a surge of demands in the last quarters.

SOUNDBITE (English), Frances FITZGERALD (EPP, IE) Question on the instruments that the ECB will deploy in order to mantain price stability in the event of a spike in housing prices.

 Answer on the instruments (e.g., indexes) used by the ECB to monitor the estate market in Europe and also on the very different nature of the various member states housing market.