MacManus welcomes ECB’s “reconsidering” of Lane’s private investor chats

Sinn Féin MEP Chris MacManus is critical of Chief Economist Philp Lane’s “private calls” with major investors.

Sinn Féin MEP Chris MacManus has welcomed confirmation that the ECB is “reconsidering” the bank’s Chief Economist Philp Lane’s “private calls” with major investors in a reply received by the MEP.

MacManus said: “I welcome the confirmation from the ECB that it is “reconsidering” these calls. As soon as I became aware of these calls, I wrote to the ECB asking how this fitted into its commitment to transparency.”

He said, in her reply to the North-West MEP’s request, ECB President Christine Lagarde said that the ECB is “continuously learning and reviewing its policies and practices” with a view to making them as effective as possible – “this is also true for the field of communication. To this end, the format of the calls you referred to is also being reconsidered.”

MacManus described the progress as positive but said it must result in action.

“This is certainly a welcome step but somewhat ambiguous. I hope it means that these cosy chats are ended immediately.”