Debate on the European Central Bank Annual Report for 2013 during the EP plenary session in Brussels. Statements by David CASA (EPP, MT), Burkhard BALZ (EPP, DE), Renato SORU (S&amp;D, IT), Notis MARIAS (ECR, EL), Ramon TREMOSA i BALCELLS (ALDE, ES) and Philippe LAMBERTS (Greens/EFA, BE)

Brussels

statement

debate

plenary session

LAMBERTS, Philippe (Greens/EFA, BE)

MARIAS, Notis (ECR, EL)

European Central Bank annual report (T)

CASA, David (EPP, MT)

TREMOSA i BALCELLS, Ramon (ALDE, ES)

BALZ, Burkhard (EPP, DE)

SORU, Renato (S&D, IT)

European Central Bank Annual Report for 2013: extracts from the MEPs debate

Arrival of ECP President Mario Draghi, (1 shot)

SOUNDBITE (Maltese), David CASA (EPP, MT), "This annual report clearly shows that the ECB is in touch with the needs of the Banking centre, but this is not enough and there is much more to be done. One measure that can contribute to meeting this challenge is the capital Union that is currently being discussed."

SOUNDBITE (German), Burkhard BALZ (EPP, DE), "The situation that we have now is such that fiscal measure cannot alone ensure budget consolidation. Now the rapporteur quite rightly mentioned that in the lights of the debt crisis there are several different tools that have to be used in conjunction. And several of these have already been begun, the implementation of reforms cannot be suspended or even delayed, fiscal policy is just a short solution and it has to be assessed with a more long term vision in mind."

SOUNDBITE (Italian), Renato SORU (S&amp;D, IT), "It is important to hold this dropping inflation rate and to try to stop deflation in its tracks in the case of some member states."

SOUNDBITE (Greek), Notis MARIAS (ECR, EL), "The ECB blackmails the European people and its democratic governments in the name of so called saving of the Euro, this is what it did with Ireland, this is did with Cyprus and this is what it just did to Greece a few days ago. The ECB took the illegal decision not to accept Greek government bonds from the 16th of February onwards. You know full well that up to the 28th of January Greece was part of the programme, Mr Draghi please understand that you have to respect European people. Stop speculating to the debt of the Greek people and give back the 1.9 Billion Euro from the profits that the ECB got from the Greek government bonds from 2014."

SOUNDBITE (Spanish), Ramon TREMOSA i BALCELLS (ALDE, ES), "There is also the risk buying corporate bonds will only serve for big enterprises to arrange by 'backs' without any increased investment. In contrast I think that buying securitised loans to SME's is an important step forward, I hope that it's relative importance inside your programme will evolve positively as the market grows. On the other hand some voices in the financial markets are claiming that they don't want to sell the government bonds to the ECB, it is due to possible losses in the transaction as most bonds are 'hielding' these days at the moment when they are bought.

SOUNDBITE (English), Philippe LAMBERTS (Greens/EFA, BE), "I find frequently that you have overstepped your role by actually stepping in into political territory especially when you were advocating, sometimes intimidating governments into taking structural reforms which were political oriented and of course I respect political orientations but I always that it is not for Central Bankers to decide on that."

SOUNDBITE (English), Philippe LAMBERTS (Greens/EFA, BE), "There is no monetary union ever in Human history that has worked without this being a true budgetary Union, a true fiscal Union in the income side of the equation ion as well on the expenditure side of the equation. You have to say and there is no fiscal Union without a democratic Union, because no taxation without representation, we need indeed a federal body that is able to make the necessary transfers to compensate the macro economic imbalances that exist in any monetary Union. I expect you to be courageous enough to say the obvious because at least you are not political accountable so you can say what you really think."