Christoph Konrad (PPE-DE). – (DE) Madam President, ladies and gentlemen, in the light of this debate it can be said that the ECB is a kind of rock in the waves. That is to be welcomed. Obviously price stability is the top priority in the economy, If that continues to be so in the future, that can only be positive.

We have noted that the average inflation rate in the euro zone is 4%. In some euro zone countries it is even higher, for instance 5.8% in Belgium and 5.1% in Spain. That is bad news. Therefore the signal – the European Central Bank decision – sent out this week is important. We just have to note, here in Parliament too, that the ECB obviously cannot do anything to combat inflationary oil prices. However, the secondary effects that will be felt in the euro zone, for instance higher wages, which the unions are demanding, and at the same time higher prices, which then affect businesses, hold a risk and ultimately lead to a vicious circle.

I should like to make two further comments on the politicisation of the European Central Bank. We are constantly coming across that in the Committee on Economic and Monetary Affairs and it has also been made clear in this debate. For instance, the question of transparency of the decision-making process is a signal in that direction, an attempt to find out more and more, and also to step up influence on the decision-making process. Greater transparency – I am wary of that. I think the Bank has to decide for itself and, of course, in consultation with Parliament and euro zone representatives. Justification of decisions, though – that is going too far.

We should – and this will undoubtedly play a part in the next round – reconsider very carefully when extending the euro zone whether we can continue with this policy. Slovakia was a warning sign for me. We should be less concerned with politics in the future and pay more attention to the criteria.