Sarkozy wants debate on expanding ECB's role
PARIS—French President Nicolas Sarkozy is calling for a discussion of expanding the role of the European Central Bank to allow it to focus on promoting economic growth.
The bank currently has a narrow mandate of keeping inflation in check. Some economists have lamented that that single focus has constrained its response to the continent's debt and economic crisis.
By contrast, the U.S. Federal Reserve has a dual mission to guard against inflation and promote growth.
Sarkozy's opponent in the upcoming election has already called for expanding the bank's role.
On Sunday, Sarkozy said it was time to debate a broader mission for the ECB.
He told supporters at a rally, "If the central bank doesn't support growth, we won't have enough growth."