According to the complaint, the ECB President’s membership of the Group of Thirty, which includes representatives of big private banks such as Goldman Sachs, Morgan Stanley and JPMorgan, is effectively membership of a lobby group. This violates the ECB‘s ethics rules as it endangers the independence of the ECB and creates potential conflicts of interest.
Corporate Europe Observatory will submit a detailed response to the European Central Bank and the EU Ombudsman on the 28 September.