Brussels, 06/09/2012 (Agence Europe) - The Corporate Europe Observatory (CEO) criticises the way the European Central Bank (ECB) denies that there is a conflict of interest in the membership of its president, Mario Draghi, of G30, a financial lobby group of private and public sector banks. In the ECB's response to the investigation carried out by the European Ombudsman that CEO published on its website (see EUROPE 10667), the bank says that the G30 is not a pressure group and Draghi needs regular dialogue with the financial industry. The ECB criticises CEO for its ignorance of how the G30 operates (which it describes in its document). CEO researcher Kenneth Haar says in a press release that the ECB always claims that the G30 is not a lobby group, but it has not responded to the allegations about the G30's pressure group activities. In reality, G30 is indeed a lobby group and big banks are actively involved in setting its agenda. That is why the G30 is one of the organisations that argued for the lax legislation that led to the 2008 financial crisis. CEO will be publishing its position on the European Ombudsman's investigation later this month. (MB/transl.fl)