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Appointment of Yves Mersch to ECB Board: Statement from Sharon Bowles MEP

November 23, 2012 2:03 PM

"The ECB now has a member on its highest board without a democratically established mandate. Today the EU's heads of state have sent a clear signal of what their idea of a democratic process is: a tool to be upheld in form and discarded when its truths are inconvenient.

"Citizens across the EU have been astounded to discover the lack of gender diversity in the ECB, and indeed in other EU organisations. No doubt they will express their views through ballot boxes if governments do not take the issue seriously.

"Today's decision also undermines and discredits work being undertaken to make the EU's economic governance system more democratically accountable. The public will not buy into transfers of powers to the EU on economic matters if they are not guaranteed that those wielding these powers will be accountable. But how can we guarantee this when the mildest democratic processes are disregarded?

"The depth of the democratic problem we face is much deeper than the individual action of today. Member States would do well to make this problem their priority when developing a blueprint for a future EMU. We also expect to have a roadmap to gender diversity for central banks, as previously requested. The EP will certainly be taking them to task on this if they do not."

ENDS