Mario DRAGHI, candidate to the Presidency to the European Central Bank, is invited to an exchange of views before the Economic and Monetary Affairs Committee (ECON) at the European Parliament in Brussels. He makes a statement before the committee responsible (ECON) and answers questions put by its Members.

Brussels

European Central Bank

DRAGHI, Mario (IT)

Committee on Economic and Monetary Affairs

hearing

appointment of the President of the ECB (T)

Exchange of views with Mario DRAGHI, candidate to the Presidency to the European Central Bank: extracts

Exterior view of the European Parliament, Brussels

Cutaways prior to the Hearing, Mario Draghi's arrival to ECON Committee, greetings, hand shake with Sharon Bowles ECON Chairperson, Mario Draghi's name tag, photografers, speakers table (6 shots)

SOUNDBITE in French by Mario Draghi, Candidate to ECB presidency, I am honoured to be considered candidate for the presidency of the ECB because I believe that the EMU with the Euro at its centre has been a great successfor all our citizens.

SOUNDBITE in English by Mario Draghi, Candidate to ECB presidency, I am honoured to be considered candidate for the presidency of the ECB , because I believe that the EMU with the Euro at its centre has been a great success, Let me state that none of the recent events including the global crisis has called this fact into question."

SOUNDBITE in English by Mario Draghi, Candidate to ECB presidency,"I also firmly believe that as a counterpart as its independence the ECB must ensure that in its exercise of its responsibilities there is the highest degree of transparency and accountability."

SOUNDBITE in English by Mario Draghi, Candidate to ECB presidency,"We have avoided the collapse of the financial system, supported the functioning of the transmission of monetary ^policy to the economy and ultimately ensured the price stability thereby supporting the European economy, however these measures are temporary ".

SOUNDBITE in English by Mario Draghi, Candidate to ECB presidency answering a question on Greece," As you know the ECB has expressed a clear posiiton on this issue and I share this position; let me quote it, the ECB is not in favour of restructuring , we should exclude all concepts that are not purely voluntary or that have any element of compulsion, we call for the avoidance of any credit event and selective defaults or general defaults".

SOUNDBITE in English by Mario Draghi, Candidate to ECB presidency," The ECB mandate says that medium term price stability should be ensured in the area as a whole. So it is n ot dictated by National economic conditions , or national priorities or national preferences. It is very clear to me, I am accountable to all European citizens and to you and not to the citizens of one country but having said that , it is going to be hard to fit Jean Claude shoes, he is so good that it is hard to succeed him."

Question in French by Pascal Canfin (Verts/ALE, FR) In 2003 you were managing Director with the greek gentleman who set up the swap between Goldman Sachs and Greece you therefore knew about this agreeement even if you did not negotiated it. What do you have to tell us today about this?

SOUNDBITE in English by Mario Draghi, Candidate to ECB presidency (answering a question by Pascal Canfin (Verts/ALE, FR) on his past work at Goldman Sachs,"My work at Goldman Sachs, the deals between Goldman Sachs and the Greek government had been undertaken before my joining Goldman Sach, I did say this on and on and on. 2, I had nothing to do with these deals , neither before nor after, third I think your amount of information is not correct, I was not in charge of selling stuff to the governments, in fact I worked with the private sector and even though Goldman Sachs expected me to work with the public sector when I was hired, I told them that frankly having been in the public sector before I had no interest or taste or care for working with the public sector ."

Cutaways, Members of the ECON committee listening to Mario Draghi, general view of the hearing (5 shots)