Hardly had we found a euro zone savor, i.e. ECB-Chief Mario Draghi, it looks as if we may lose him again. The European Union saw itself enforced to investigate allegations raised against Draghi by NGO Corporate Europe Observatory, an EU-focused lobbying tracker. CEO accused Drahi of lacking of independence because of his membership to international forum of the Group of Thirty (G30), a banking lobby group whose members are first-calliber powerful economists and government officials and bankers.
Mario Draghi: the ECB would do “whatever it takes” to save the euro.
On Tuesday, European Union ombudsman Nikiforos Diamandouros [who happens to be from … Greece!] sent a letter to European Central Bank briefing Draghi about the complaint and the accusations.
“We received a complaint and sent a letter to the ECB,” said Gundi Gadesmann, spokeswoman for EU ombudsman Nikiforos Diamandouros. “Now we are waiting for a reply.” (Reuters)
“As the European Council prepares to give the European Central Bank (ECB) considerable influence on more issues of direct interest to private banks, the complaint, filed by research and campaign group Corporate Europe Observatory calls into question Mario Draghi’s independence and suggests his involvement in the corporate bankers group creates a conflict of interests.
The complaint states that Draghi’s membership of the ‘Group of Thirty’ – a banking lobby group – is at odds with the ECB’s rules on ethics. Draghi is alleged to maintain close ties with the group and to participate in closed meetings.
The Group of Thirty is an exclusive forum for senior bankers, bringing together bankers from the private sector, alongside figures from government and from academia. Its stated aim is to influence public and private banking.
According to Corporate Europe Observatory’s complaint, as such, it bears all the characteristics of a lobbying vehicle for big international private banks and the President of the European Central Bank should not be able to be a member.”(CEO)