European Parliament Committee on Economic and Monetary Affairs explained

The Committee on Economic and Monetary Affairs (ECON) is a committee of the European Parliament which is responsible for the regulation of financial services, the free movement of capital and payments, taxation and competition policies, oversight of the European Central Bank, and the international financial system.

Since the establishment of the Economic and Monetary Union (EMU), one of the most important function of this committee has been the oversight of the European Central Bank (ECB) through the "monetary dialogue". Although guaranteed independence under the Treaty, the ECB is accountable for its actions towards the European Parliament, and more precisely the ECON Committee.[1] Every three months, the President of the ECB, or occasionally another member of the ECB's executive board, appears before the Committee to report on monetary policy and answer question from MEPs. These proceedings, usually called the "monetary dialogue", are webstreamed and a transcript is made available on both the Parliament and ECB websites.[2]

The European Parliament's ECON Committee also plays an advisory role in the appointments of the President and board members of the ECB.[3]

Ninth legislature

Members of the bureau

PositionNamePolitical GroupCountry
ChairIrene TinagliS&D
1st Vice-chairLuděk NiedermayerEPP
Vice-chairStéphanie Yon-CourtinRenew Europe
Vice-chairDerk Jan EppinkECR
Vice-chairJosé GusmãoGUE/NGL

Eighth legislature

Members of the bureau

PositionNamePolitical GroupCountry
ChairRoberto GualtieriS&D
Vice-chairBrian HayesEPP
Vice-chairPeter SimonS&D
Vice-chairKay SwinburneECR
Vice-chairLuděk NiedermayerEPP

Seventh legislature

Members of the bureau

NamePosition
Sharon BowlesChair
José Manuel García-Margallo y MarfilVice-chair
Arlene McCarthyVice-chair
Theodor Dumitru StolojanVice-chair
Edward SciclunaVice-chair

Further reading

External links

Notes and References

  1. Web site: ECB Needs More Scrutiny From European Parliament, Report Says. Piotr Skolimowski. April 2019. www.bloomberg.com. 2019-10-06.
  2. Web site: Monetary Dialogue 2009-2014: Looking Backward, Looking Forward, Monetary Dialogue, March 2014 - Think Tank. www.europarl.europa.eu. en. 2019-10-06.
  3. Web site: European Central Bank appointments: Role of the European Parliament - Think Tank. www.europarl.europa.eu. en. 2019-10-06.