Today EU Ombudsman Emily O’Reilly presented her final decision on the membership of ECB President Mario Draghi in the Group of Thirty (G30). The ECB had rejected the request of the EU Ombudsman to end Draghi’s membership of the G30. O’Reilly now acknowledges the ECB’s “continuing maladministration”. The Group of Thirty is an opaque association of major bank representatives, central bankers and some academics.
MEP Sven Giegold, financial and economic policy spokesperson of the Greens/EFA group commented:
“The ECB is gambling away its most important capital, independence and credibility. The central bank acts arrogantly and negligently when it simply ignores the Ombudsman’s criticism. It raises doubts about the integrity of the European institutions as a whole. This is poison for confidence in Europe. The European Parliament has proposed general criteria and the Ombudswoman has made specific proposals. It is simply outrageous that the ECB believes that it stands abover the Ombudsman when it comes to ethical questions. I will ensure that this wrong decision by the ECB has parliamentary consequences and put the issue on the agenda.”
Letter of the Ombudswoman concerning the decision: https://sven-giegold.de/wp-content/uploads/2018/07/2018-07-03_Ombudsman_decision_ECB-G30_cover-letter.pdf
Ombudswoman’s decision on Drahi and the G30: https://sven-giegold.de/wp-content/uploads/2018/07/2018-07-03_Ombudsman_decision_ECB-G30.pdf