Yesterday, the EU-Parliament adopted a report, which calls on the ECB “to ensure that the Ethics Committee is not chaired by a former president of the ECB” and stresses that the president or board members of the ECB should not be members of the G30 or other groups which include executives from banks supervised by the ECB.
Continue reading “EU-Parliament wants Trichet removed from ECB-ethics committee (corrected version)”
George Soros’ INET, the Trojan horse of the financial oligarchy
Four years ago, I framed it as a question: “George Soros‘ INET: An institute to improve the world or a Trojan horse of the financial oligarchy?” Today I would not use a question mark any more.Frances Coppola came to a similiar conclusion after attending the big INET gathering in Edingburgh in October.
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Jean-Claude Trichet cannot be chairman of the ECB’s ethics committee any longer
The EU Ombudsman has issued her judgement that it constitutes maladministration on the part of the ECB that they have been letting their president, Mario Draghi, be a member of the private club of bankers G30. It would be an insult to the European people, if former ECB-president Jean-Claude Trichet, long-time chairman of said club G30 and its current honorary-chairman, would continue to serve as the chairman of the ethics committee of the ECB.
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The Curious Silence of the British Media Regarding Mark Carney and the Secretive G30
19 January 2018 | The EU-Ombudsman has just called it maladministration on the part of the ECB to let Mario Draghi be a member of that secretive bankers’ club. This should invite the question: What about Mark Carney and the Bank of England? The British press, apparently, couldn’t care less. The governor of the Bank of England, Mark Carney has at least two things in common with Mario Draghi, the president of the European Central Bank (ECB): He worked for Goldman Sachs before becoming a central banker, and he is a member of the Group of Thirty.
How Uber money dominates and distorts economic research on ride-hailing platforms
Ride-hailing platform operator Uber is often accused of undermining labour market regulations and of overpricing at times of peak demand by “surge pricing”. Uber defends itself against such accusations not only by using high-profile lobbyists, but also with the help of top-notch economists, who cooperate in exchange for exclusive data and lucrative consultancy assignments. Even reputable journals publish such sponsored analysis as if it were scholarly research.
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How does Germany’s Monopolies Commission combat market concentration? By making sure that no good data is available
How many companies have merged into corporate groups in Germany? We don’t know. The official figures are completely unconvincing. We have a Monopolies Commission which, together with the German Federal Statistical Office, has the legal mandate to monitor market concentration. Germany’s parliament wanted to ensure that the necessary information about the possible emergence of problematic market power is available, only to discover this no longer fits in with the neoliberal ideology inspired by the Chicago School, which has apparently become the ruling ideology at Germany’s Monopolies Commission.
The ECB resorts to omissions, half-truths and misrepresentations to defend Draghi’s G30-membership
19 November 2017 | The ECB has answered questions posed by the European Ombudsman to president Mario Draghi regarding his membership and his participation in closed-door meetings of the Group of Thirty (G30), a Group in which the world’s most central bankers and commercial bankers comingle. The 17-page reply manages to evade several questions, is quite selective in the information given and even contains some false statements.