De Larosiere report in FD's Magazine
Campaigners today called on the new president of the European Central Bank, Mario Draghi, to cut his ties with an elite banking lobby group in order to protect the independence of the Central Bank.
Corporate Europe Observatory has demanded that the President of the European Central Bank Mario Draghi leaves the ‘Group of Thirty’, a club of central bankers and chief executives from private banks. What is the case about?
Last month former European Commissioner Charles McCreevy joined the board of NBNK Investments PLC, a new investment vehicle which according to media reports aims to “buy banking assets that are being sold off by banks for regulatory reasons”. McCreevy's salary will be between 61,000 and 122,000 euro per year depending on “NBNK achieving a major acquisition. McCreevy is also reported to hold 20,000 shares.”
ALTER-EU's new report, 'A captive Commission – the role of the financial industry in shaping EU regulation' which was launched last week, shows that most of the so-called 'expert groups' advising the EU Commission on financial market regulation are dominated by industry lobbyists. More than 80% of the non-governmental 'experts' in these advisory groups represent big banks and investment funds.
Corporate Europe Observatory
Corporate Europe Observatory (CEO) is a research and campaign group working to expose and challenge the privileged access and influence enjoyed by corporations and their lobby groups in EU policy making.