Home International Germany reaffirms ECB independence amid France’s euro plans

Germany reaffirms ECB independence amid France’s euro plans

By IRNA

Berlin : The German government here Monday reiterated that the Frankfurt-based European Central Bank (ECB) should maintain its complete independence from interference by governments from euro zone member states.

“The position of the German government remains clear: the independence of the ECB is untouched and may not be touched,” deputy government spokesman Thomas Steg said during a news briefing.

The German official was reacting to likely French plans for holding a summit on the euro during France’s European Union presidency in the second half of the year.

“We’re open if the French, with a view to their presidency, plan a summit’ to discuss the euro and questions of European financial policies,” Steg added.

He said the German government has “taken note” of French Prime Minister Francois Fillon’s announcement of a special meeting in the second half of the year when France holds the EU’s rotating six-month presidency.

The German government hasn’t received yet an official invitation, Steg pointed out.

The German official’s remarks highlight a deepening split between Germany and France on the autonomy of the ECB, whose main responsibility is to uphold price stability in the 15-nation euro zone.