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Bloomberg
European lawmakers should play a bigger role in scrutinising the European Central Bank and appointing its key officials, according to a report from the Positive Money Europe advocacy group.
The organisation, which wants a fairer banking system and opposes policies such as quantitative easing, recommen-ds giving politicians more time to put questions to President Mario Draghi at his quarterly hearings and creating a sub-committee that will focus exclusively on overseeing the ECB.
Parliament should also be presented with a shortlist of at least two candidates during the selection of Executive Board members, instead of simply being expected to rubber-stamp decisions taken elsewhere.
“In the face of growing challenges, uncertainty and criticism, it is necessary to strengthen the ECB’s accountability now to ensure it has the legitimacy to act when the next crisis hits,†Stanislas Jourdan, one of the report’s co-authors, said in a statement.