MOSCOW (Sputnik), Alexander Mosesov — The chances of a change in the mandate of the European Central Bank (ECB) are virtually not existent, Vincent Brousseau, a member of the executive board of the French Popular Republican Union party told Sputnik on Tuesday.
“A change of the ECB’s mandate would require unanimous consent and a lengthy validation procedure throughout the various parliaments of the EU… Let us mention that unanimity requires, among other things, the consent of Germany. Thinking that Germany would accept to modify the ECB’s mandate is completely unrealistic,” Brousseau said.
Brousseau explained that most people do not understand the procedural and political constraints hidden in any proposal to change the mandate of the ECB, the financial institution that administers the monetary policy of the entire Eurozone.
