“Young Academics Seminar Series’ Held in London

Yazıcı-dostu sürüm

The first program of the "Young Academics Seminar Series" event series in 2023 was held by Yunus Emre Institute in London with the participation of Turkish students who are doing academic studies at universities in the UK and foreign students whose fields of study are related to Türkiye as speakers.

In the first event of the series of events organized by the Institute every month with different guests and on various topics, Hüseyin Emre Sezgin, a PhD student at the University of Glasgow, made a presentation titled "The European Central Bank and Its Accountability: Missing Steps" in January 2023 .

Hosted by the Institute on January 24, 2023, the event focused on the economic policies and democratic, legal and political accountability of the European Central Bank. The presentation by Hüseyin Emre Sezgin, who is currently pursuing his PhD at the University of Glasgow, was well-attended by an audience interested in the European Union’s macro- and micro-economics.

Sezgin started his speech by talking about the responsibilities of the European Central Bank (ECB) for the monetary policies of the European Union and the importance of its power over the eurozone economy. He touched on the effects of the ECB's mandate of coining money on the value of the euro.

Sezgin emphasized that although the political independence of the ECB protects the ECB against political influence from member states or the institutions of the European Union, it does not protect member states against political influence from the ECB. He cited as examples the threatening letters from former President Jean-Claude Trichet and the financial and economic pressures against the Syriza government in Greece.

Referring to the period when the European Central Bank assumed more powers and responsibilities to address the euro crisis that started in 2010 following the global financial crisis in 2008, Sezgin stated that this enlargement was insufficient in terms of accountability and touched upon the ECB's accountability geometry, its place in the EU's institutional balance and the transformation of the ECB.

Later in his speech, Sezgin emphasized that the ECB has not been able to build accountability mechanisms that would work in tandem with the powers that the ECB has acquired, and that the ECB has become an increasingly political and more powerful institution of the European Union.

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