The Economic and Monetary Affairs Committee met on 14 of June with Mario Draghi, candidate designate for the European Central Bank presidency. Mr. Draghi explained to the Committee that the ECB must not be diverted from its primary goal of price stability and he assures to the MEPs that he would use the European Parliament venue to strengthen the ECB's accountability to citizens.

Parliament has a consultative role in nominating of the ECB president and holds hearings with him or her at least every quarter. Mr Draghi, in one of those hearings answered the questions from MEPs and he also explained his vision for the ECB, the best model for a revamped economic governance system, the best way out for Greece, and also on his past as vice-chairman of the Goldman Sachs investment bank. Mr Draghi was proposed by the Council in May. MEPs will give their final opinion on 23 June.

With regard to Greece, Mr Draghi stuck to Mr Trichet's stance of "no default", but nonetheless accepted that private investors could be included in the picture of a solution for Greece provided that this was "entirely voluntary", as had been the case in 2009 for some central and eastern European countries.

In addition, Mr Dragui defended the ECB's attitude towards inflation. He also confirmed to MEPs that the ECB had neither lost its independence, nor was overstepping its mandate, provided it did not enter the field of politics. To a question about a possible EU finance minister, Mr Draghi replied that there was not enough integration for this step. For the same reason, he also said that Eurobonds were currently a step too far.

He also defended himself on his past involvement with Goldman Sachs and whether this could negatively affect his perceived integrity as ECB president. He said that he was not involved in the bank's work with governments and that his track record since then in clamping down on the banking sector and warning about the build up of risk proved that he would not be in the pocket of the financial industry.