20261001 ECB Legal Conference Panel 1: Central banks and the legislature

Panel 1 Central banks and the legislature This panel examines the relationship between the European Central Bank (ECB) and legislature as a two-way interaction. On the one hand, it considers the ECB’s involvement in the legislative process, in particular through its independent consultative function. On the other hand, it addresses the scrutiny exercised by the European Parliament over the ECB, most notably through the Monetary Dialogue. The discussion will highlight the specificities of the EU constitutional framework, and the special relationship between a supranational and independent monetary authority and the parliament. To what extent does the ECB’s consultative role meaningfully influence legislative outcomes, and how should its input be understood within the EU’s institutional balance? How should parliamentary scrutiny evolve in light of ECB tasks that carry more visible distributive effects, especially in times of crisis? What role does the ECB’s secondary mandate play in this discussion? Chair: Frank Elderson, Member of the Executive Board and Vice-Chair of the Supervisory Board, European Central Bank Panellists: Julio Baquero Cruz, Member of the Legal Services, European Commission Evelien Witlox, Director of Digital Euro, European Central Bank Sara Dietz, Principal Associate, Freshfields