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Europe Daily Bulletin No. 8315
Contents Publication in full By article 25 / 32
GENERAL NEWS / (eu) eu/convention/emu/social

Caspar Einem suggests Parliament should be able to censure ECB President

Brussels, 09/10/2002 (Agence Europe) - Caspar Einem, representing the Austrian parliament at the European Convention, presented to the Convention a paper entitled "On the road to a social Union" in which he insists on the importance of employment and social security for European citizens. Mr Einem mainly calls for the aim of full employment to be included in Article 2 of the Treaty, and for this to comprise a new heading on an "economic and social" Union. In his view, it is also necessary to adjust provisions on the Central Bank, which, while keeping its independent status, should support an economic policy that is "directed towards full employment". Thus, he above all proposes that Article 113 of the EC Treaty on the European Central Bank should be amended so that the Bank hands over to the European Parliament the minutes of discussions by the Governing Council on its monetary policy decisions, and that not only the ECB president but also the other members of the Executive Board should come twice a year to present an oral report to the relevant committees of the European Parliament. If the parliamentary committee competent considers the information provided by the Bank insufficient, its president should have the right to take part in the following meeting of the ECB Council in order to expose the Parliament's position, says Mr Einem. And, above all, he requests that, "if the relations of confidence" between the bank and the MEPs is "lastingly troubled", then the Parliament should have the right to present a motion of censure against the ECB President, which, if accepted, would entail the immediate departure of the latter (who would be replaced by the vice-president until a new president has been appointed).

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