Oireachtas Joint and Select Committees

Wednesday, 21 January 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Photo of Marc MacSharryMarc MacSharry (Fianna Fail) | Oireachtas source

Of course I do not want Mr. Regling to mention any names. In the context of the structure of the euro and how the 19 heads of central banks operate, each being a member of the governing council of the ECB, in Mr. Regling's understanding at the time - I suppose it is the same now - when the 19 central bankers are sitting around in Frankfurt, have they a fiduciary duty to the mission of the European Central Bank and, if so, does that override any duties and responsibilities they have to their national central banks when they are in that room?

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