Opaque wage adjustment processes are unaccountable, sources tell Central Banking
European Central Bank, Frankfurt
The transcript of a conversation between heads of a European Central Bank division hints at nepotistic behaviour at the institution’s banking supervision arm.
The transcript is of a call that took place at the end of October 2024 involving senior figures from the ECB’s authorisation division, which grants licences to commercial banks. During the call, the senior figures appear to have invited a larger group of people from the division to discuss hiring someone. After the larger group had left
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