ECB minutes, publication (publication of records of the ECB council meetings)

Regularly recurring demand that the ECB should release the minutes of the respective meeting of the Governing Council. A distinction has to be made between – a stenographic (stenographic: account in writing) or – mechanical (mechanic: by [electronic] recording device) recording of all speeches (minutes) and – a summary report of proceedings (record of proceedings). – From the outset, the ECB has provided a detailed statement of the reasons for its decisions after each meeting of the Governing Council by the President. Many central banks publish minutes of their meetings. However, their information content is consistently below the level of the statements made by the President of the ECB in the press conference following each meeting. The minutes of the Australian central bank have even been characterized as the ideal means of falling asleep. – The Governing Council currently consists of twenty-four members. It would be very difficult to publish a document in which each member explains why he/she was voting in a particular way. – Moreover, this would also increase the risk of pressure being put on individual council members. They could easily be accused of voting contrary to the interests of their country. At least, however, the ECB will issue a summary meeting report from January 2015 in the sense of. – See information, market-sensitive, Becket effect, one-vote principle, no-impact principle, ECB meeting rhythm, Ireland crisis, poltergeist, renationalization, monetary, representation problem, rotation principle, southern front.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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