Shortly after the EU’s Court of Auditors criticised the ECB’s lack of transparency vis-à-vis public auditors, the ECB is again in democratic deep water. The EU Ombudsman has now responded to a complaint from the non-governmental organisation Corporate Europe Observatory and demands that ECB president Mario Draghi leaves the intransparent financial association G30.
Sven Giegold, spokesman for the Greens in the Committee on Economic and Monetary Affairs (ECON) comments:
“Mario Draghi must now draw the consequences. It is high time for the ECB President to leave the G30. The ECB’s independence is at risk if Mario Dragee continues to be a permanent member of non-transparent forums with the leaders of the global financial business.”
“The ECB must now take the criticism of lack of transparency and conflicts of interest by EU authorities seriously. The EU Court of Auditors has a right of access to all relevant documents. The Ombudsman’s criticism deserves a quick response. The ECB should now comprehensively improve its own rules for greater transparency and integrity, rather than waiting for the next slap in the face.”
The Ombudsman’s recommendations:
https://www.ombudsman.europa.eu/en/cases/recommendation.faces/en/88592/html.bookmark#hl13