European Central Bank

Dáil Éireann Debate, Tuesday - 26 March 2013

Tuesday, 26 March 2013

Questions (216)

Colm Keaveney

Question:

216. Deputy Colm Keaveney asked the Minister for Finance his views on a broadening of the mandate of the European Central Bank beyond their current sole focus on controlling inflation in order to include, in a manner similar to the Federal Bank in the United States and the Bank of England in the United Kingdom, a mandate to aid and promote growth to be prudent; if so, if he will detail the initiatives he has taken to secure this broadening of the ECB's mandate; and if he will make a statement on the matter. [15149/13]

Written answers

Minister for Finance

The mandate of the ECB is set down in the European Treaties and the ECB is independent in the exercise of its functions. I am not aware of any proposal for Treaty change to broaden the mandate of the European Central Bank into the area of aiding and promoting growth.

The proposal for a Single Supervisory Mechanism (SSM) does not include any such proposal.