Frankfurt — The EU’s ethics watchdog is quizzing the president of the European Central Bank (ECB), Mario Draghi, over his and the ECB’s involvement in an exclusive forum with bankers and fund managers. In a letter to Draghi that was published on Friday, European Ombud Emily O’Reilly said the meetings of the Group of 30 (G-30), where central bankers, economists and financiers talk behind closed doors, are "not transparent", and questioned the ECB president’s membership of the club. "Where ECB members attend meetings organised by the Group of 30, they must abide by treaty transparency requirements," O’Reilly said in the letter. "However, Group of 30 meetings are not transparent." O’Reilly, who watches for ethics lapses at European institutions and can make nonbinding recommendations, asked the ECB whether it would consider publishing agendas and summaries of those meetings. Draghi has until September to reply to the letter in writing. The new inquiry was triggered by a complaint by ac...
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