Governance at the European Central Bank (ECB) needs to be strengthened, with more democratic oversight and increased transparency, according to a global campaign body.
Transparency International EU said the ECB risked endangering the euro currency unless it takes steps to improve its governance.
The anti-corruption campaigner said the ECB should take steps such as automatically publishing decisions and be open about the political choices it considers, instead of insisting its decisions are entirely technical.
Leo Hoffmann-Axthelm, research and advocacy coordinator at Transparency International EU, said: “While the ECB has saved the single currency more than once, the absence of a Eurozone finance ministry as counterpart to the ECB means that the bank has had to stretch its mandate to breaking point.
“If the euro is to survive the next crisis, then EU member states need to stop hiding behind the technocrats at the ECB, overcome political inertia and get serious about reforming the Eurozone.”