European Central Bank President Mario Draghi will be in Strasbourg on Monday afternoon for a debate with MEPs on the Bank's annual report for 2014.
MEPs are likely to ask Mr Draghi about the "modest impact" of - and risks associated with - the bank's assets purchase programme (APP), also known as quantitative easing, which has not yet led to the desired inflation rate of close to but below 2% or to a smaller gap between the lending rates granted to SMEs and bigger firms respectively. They will call for prudence and underline that monetary policy cannot resolve fiscal and economic problems and should not substitute for necessary structural reforms.
In a response to the Bank's 2014 report, voted in the Economic and Monetary Affairs Committee on Monday 25 January, MEPs also called for a "thorough assessment" of the ECB's role in the Commission/ECB/IMF “Troika” so as to clarify the Bank's responsibilities for approving and implementing bailout programmes like that in Greece. They underline the need for a clear separation of the ECB's role as a bank supervisor on the one hand and a monetary policy maker on the other, and underline the need for democratic accountability for this new supervisory role.
Procedure: non-legislative resolution
Debate: Monday 1 February
Vote: February II