Thursday 26 April 2018

Central banker's Asian jolly as Greece burns

Nick Webb

Nick Webb

AS European governments prepare their secret contingency plans to protect against the cataclysmic fallout of a sudden Greek exit from the euro, a key Central Bank executive jetted off to China on a €5,670 business-class jolly to Beijing.

The annual International Organisation of Securities Commissions (IOSCO) knees- up in Beijing took place two weeks ago and was attended by "minimum possible delegation" -- an executive from the Central Bank's "markets policy division".

Away from the drudge of the daily conference, delegates at the event were able to enjoy a cocktail at the seven- star Pangu hotel, a "feast of Culture" at China's national museum rounded off by a dinner and concert in the immaculately restored former Imperial Garden.

"The delegate took the opportunity to hold useful discussions on an informal basis with a large number of other delegates," according to a bank spokesman"

Business travel costs at the Central Bank soared 20 per cent to €2.01m last year.

Sunday Indo Business

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