European Central Bank head will talk with MPs

European Central Bank head will talk with MPs
Photo: DPA
European Central Bank President Mario Draghi will hold talks with German lawmakers next month, parliament said Thursday, amid uproar over his plan to buy up the bonds of struggling eurozone countries.

The Bundestag lower house said in a statement that the central banker would on October 24 address deputies, “in particular, those on committees dealing with issues related to the euro crisis.”

Speaker Norbert Lammert said the house’s council of elders had unanimously agreed to to invite Draghi, who had said in a newspaper interview earlier this month that he would like to speak to the Bundestag on his strategy.

“It would be logical to have members of the budgetary committee, the European affairs committee and the finance committee there,” Lammert said in a statement.

Lammert said Draghi had told him weeks ago during a visit to the ECB in the western German city of Frankfurt that he would be willing to address lawmakers.

Draghi earlier this month unveiled the bond-buying programme, known as Outright Monetary Transactions. It has come under fire in Germany, whose central bank chief opposed the plan.

Politicians and media have expressed concern that the unlimited nature of the programme leaves Germany, as Europe’s top economy and effective paymaster, on the hook for potentially huge losses.


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