Euro Parliament 'should have say' in banking role

Updated: Monday, 18 Mar 2013 12:12

The European Parliament should have a decisive say in choosing the chairperson for the upcoming EU banking supervisor, ECB board member Joerg Asmussen has said.

In a speech Mr Asmussen said the parliament should have a say in the matter "just like it is done today with the appointment of the chairperson of the EBA," he said in a speech.

A move by European leaders to centralise bank oversight under the ECB is the cornerstone of a planned banking union designed to strengthen the bloc's lenders against future financial crises.

But there is concern about a potential conflict of interest between the ECB's role as both supervisor and guardian of monetary policy.

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