The body of the ECB responsible for directly supervising more than 130 major European banks does not have enough staff, the European Court of Auditors (ECA) said on Friday 18 November, in an audit report marked by the ECB's refusal to cooperate.
"We found that a complex supervisory structure was put in place relatively quickly. The new supervision mechanism was set in place in only 13 months, and about 1,000 new staff were recruited", said Neven Mates, member of the European Court of...