CORRECTED-UPDATE 1-ECB's Draghi to stay in opaque G30 club despite watchdog's warning [Reuters (UK)]
JP Morgan Chase & Co. (JPM)
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Source: Reuters
ECB's Draghi to stay in opaque G30 club despite watchdog's warning | Reuters Reuters Staff 4 Min Read (This April 18 story corrects to clarify Jacob Frenkel is chairman of JPMorgan Chase International, not JPMorgan) By Francesco Canepa FRANKFURT (Reuters) - European Central Bank President Mario Draghi has decided to remain a member of an opaque club of top figures in finance despite a watchdog’s call to leave it to protect the ECB’s reputation. The Group of 30 is a private forum of financiers, economists and current and former policymakers who meet behind closed doors to discuss global economic issues. European Ombudsman Emily O’Reilly had recommended that Draghi gave up his membership to fight “a public perception” that the ECB’s independence as a banking supervisor could be compromised. The ECB rejected the Ombudsman’s recommendation on Wednesday, arguing G30 discussions helped it understand economic and financial developments. “The ECB continues to consider the President’s membersh
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