| Da: Europe Direct | | | |||||||||||
| A: m. saba | |||||||||||||
| Oggetto: | [Case_ID: 0258406 / 8725277] Audit The European Central Bank | ||||||||||||
| Data: 01/04/10 14:44 | |||||||||||||
EN-258406-03
Dear Mr. Saba,
We acknowledge receipt of your message. In response to your enquiry, concerning the responsibilities of the European Central Bank (ECB), we would like to inform you that the European Court of Auditors investigates the paperwork of any person or organisation handling European Union (EU) income or expenditure. It frequently carries out on-the-spot checks. Its findings are written up in reports which bring any problems to the attention of the Commission and EU member state governments. To do its job effectively, the Court of Auditors must remain completely independent of the other institutions but at the same time stay in constant touch with them. You will find a short description of the Court of Auditors at the following address:
You will find a Report on the audit of the operational efficiency of the management of the European Central Bank for the 2007 financial year together with the replies of the European Central Bank on the website of the Court of Auditors at the following address:
The EU is taking unprecedented measures to restore stability to financial markets and to get credit flowing again. These must be matched by robust reform to prevent a repeat of the crisis and to rebuild trust in the banking industry. Financial products, activities and participants must be effectively regulated and supervised. Ethical behaviour should be promoted and unethical behaviour sanctioned. To achieve a lasting recovery, Europe must have a reliable financial market that fulfills its core function -- providing mortgages, pensions and loans. We invite you to consult the website “Driving the European Recovery” at the following address:
As a service of the European Commission providing citizens and businesses with general factual information on the European Union (EU) and its policies, EUROPE DIRECT is not entitled to comment on your remarks on monetary sovereignty. However, please note that the competent service of the European Commission in financial and monetary issues is the Directorate-General (DG) for Economic and Financial Affairs. You can contact the Economic and Financial Affairs DG using the web submit-form at the following address:
We hope this information will be of use to you.
With kind regards,
EUROPE DIRECT Contact Centre
www.europa.eu - your shortcut to the EU!
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