Mario Draghi told to drop membership of secretive bankers' club

EU ruling follows claims G30 group has too much influence with ECB president as member

The president of the European Central Bank has been told by the EU's watchdog he should drop his membership of a secretive club of corporate bankers, after claims the group had been given an inside seat from which it could influence key policies.

Following a year-long investigation, Mario Draghi was informed on Wednesday by the European ombudsman, Emily O'Reilly, that his close relationship with the Washington-based G30 group threatened the reputation of the bank, despite his assurances to the contrary.