The European auditors aren’t happy with the ECB

  • Supervision of troubled banks has some flaws
  • Deficiencies found in ECB processes to identify troubles at banks under its oversight
  • ECB has not developed sufficient guidelines to respond to a banking crisis

The European Court of Auditors said;

“The ECB’s operational framework for crisis management has some flaws and there are some signs of inneficient implementation”

Ouch! Draghi’s going to have some questions to answer.

Ryan Littlestone

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