EU ethics watchdog Emily O’Reilly opens ECB probe

The EU’s ethics watchdog led by Emily O’Reilly has opened an inquiry into the participation of ECB president Mario Draghi and senior ECB officials in the work of an exclusive group that includes bankers and fund managers.

The European Ombudsman’s probe relates to ties between ECB officials and the Group of Thirty, a private organisation where policymakers, economists, bankers, and fund managers meet behind closed doors to discuss economic and monetary affairs.

Ties between the ECB and financial sector firms have been in the spotlight since 2015, when a top official discussed the bank’s money-printing plans at a private event with hedge funds.