Paul Murphy (Dublin South West, Socialist Party) | Oireachtas source

I refer to some of the comments the Governor made to Deputy Richard Boyd Barrett on the power of the ECB. It is my considered opinion that in the time he has been on the governing council - I do not make a causal link - the power of the ECB has increased significantly in real terms. In terms of the role it has played in the crisis, this unelected institution has dictated policies to a range of countries, including Ireland. Coming to the current situation where it is at its sharpest, does the Governor agree that in reality the ECB has played a political role in its decisions on the situation in Greece, in particular the withdrawal of the waiver that allowed Greek Government bonds to be used as collateral against ECB loans? Was that a political decision driven by the fact that Greece had elected a government led by Syriza that was committed to breaking with the policies of austerity?