10
Feb
2025
Watch
European Central Bank – annual report 2024 (debate)
Mr President! Dear President Lagarde, Dear Commissioner Albuquerque, The European Central Bank is much more than just a bank: It is the backbone of our economic policy, the pillar of the European Union. Their monetary policy determines our economic future, and those who tie their hands to it block progress, endanger social peace and oppose shared responsibility. Price stability is at the core, not to say the sacred cow of monetary policy. But monetary policy goes far beyond mere price stability. Therefore, the European Central Bank also has two mandates, and the second mandate includes responsibility for people's prosperity, for jobs, innovation and also for equal opportunities. At a time when climate change and social inequality are increasingly impacting people, the European Central Bank's second mandate is more urgent than ever. We S&Ds are firmly on the side of the ECB, as its role is essential, including in the fight against climate change. In fact: Price stability and climate protection are inextricably linked. Because the climate crisis threatens people, threatens our planet and the economy alike, and those who do not understand this live in an illusion. Unfortunately, there are still forces in this House that want to force the ECB onto a market-neutral line, as if this were an inviolable dogma. But we know: Market neutrality is not a law of nature, but at most a concept conceived by humans, which leaves us in the climate war in the lurch. This policy of market neutrality would exacerbate the problems of people and the planet, rather than bring solutions. The recognition that climate change, social justice and price stability are closely linked must give us the guide on how to shape monetary policy. Only a sustainable and just economy can ensure long-term stability for all of us.