Written answers
Tuesday, 26 March 2013
Department of Finance
European Central Bank
Colm Keaveney (Galway East, Independent)
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To ask 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]
Michael Noonan (Limerick City, Fine Gael)
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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.
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