Bond vote highlights flaws in ECB’s governance: Ex-FSA head Davies

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The European Central Bank's (ECB) vote on its decision to buy government bonds outright underlines flaws in its governance, said Howard Davies, the director of the London School of Economics and a former deputy governor at the Bank of England.

In an interview with CentralBanking.com last Friday, Davies said: "It's the first time the ECB has said there was a vote. They actually said this was done by a majority view. That could be the thin end of a rather intriguing wedge because you then end up w