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.