DIE GRÜNEN | EFA im Europäischen Parlament Sven Giegold Am 25. Mai:Grün für ein besseres Europa
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Banca Carige: In depth state aid investigation needed

The ECB took over control of the Italian lender Banca Carige after several attempts to stabilize the struggling bank failed.   MEP Sven Giegold, financial and economic policy spokesperson of the Greens/EFA group commented:   “The take over of the management of Banca Carige raises serious questions which need a European investigation. Only a few […]


EU Ombudswoman’s final report: ECB risks its credibility and independence with Draghi’s G30 membership

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 […]


ECB gets a carte blanche on clearing and payment systems

Today, the European Parliament adopted an amendment to Article 22 of the Statute of the European System of Central Banks and of the European Central Bank, which confers to the ECB regulatory powers over clearing systems. In 2009, the G20 agreed to clear all standardised over-the-counter derivatives through a central counterparty. Brexit threatens to place […]


ECB delegitimises its own independence

Today, the ECB published its decision on the recommendations by the EU Ombudswoman Emily O’Reilly. The Ombudswoman recommended that the ECB terminates Mario Draghi’s membership of the Group of Thirty (G30), an intransparent association of managers of big banks, central bankers and some academics. Emily O’Reilly followed a complaint from the NGO Corporate Observatory (CEO). […]


Letter to ECB President Draghi on carbon bubble

Reinhard Bütikofer, Co-Chair of the European Green Party, and Sven Giegold (MEP) wrote a letter to European Central Bank President Mario Draghi with regards to the growing concern of a potential risk for an EU financial carbon bubble. Bütikofer and Giegold, along other Green MEPs urge to investigate how the exposure to high carbon investments […]


ECB forced to fill void left by Euro state governments‘ inaction

The European Central Bank is today set to announce a scheme of quantitative easing – buying sovereign bonds on the secondary market – in response to deflation in the Eurozone. Commenting on the anticipated decision, Greens/EFA co-president Philippe Lamberts stated: „The ECB is being forced to fill the void left by Eurozone member states‘ inaction […]