Two sides of the same coin? Independence and accountability of the European Central Bank

A report on governance of the European Central Bank was published by Transparency International (EU Office) in March 2017. The report urges the ECB to increase democratic oversight and accountability if the euro is to survive another crisis.

The text also finds that a lack of potential leadership and decisive reform led the ECB to stray into the area of political decision-making, without appropriate democratic scrutiny. It adds that this was accompanied by a marked decline in public trust at a time when the ECB has been granted extensive new powers to supervise major European banks.

• Primary Source

Transparency International: Two sides of the same coin? Independence and accountability of the European Central Bank [PDF] http://transparency.eu/wp-content/uploads/2017/03/TI-EU_ECB_Report_DIGITAL.pdf

ECB: Press Release, 28.03.17: ECB welcomes dialogue with NGOs on transparency https://www.ecb.europa.eu/press/pr/date/2017/html/pr170328.en.html

EUObserver, 29.03.17: Eurozone bank needs more scrutiny, says NGO https://euobserver.com/institutional/137419

---