ECB no longer seen as savior

Media analysis of the ECB: July 1, 2011–June 29, 2015

Rapperswil, July 2, 2015: The erratic negotiations about a third bailout for Greece have eroded media confidence in the monetary union and its guardian, the ECB. The ECB and its President, Mario Draghi, are less visible in the reports about the talks with the Greek government than political leaders. But this has not stopped the massive criticism of its policy – especially in Germany. The latest analysis of the Swiss-based Media Tenor International Institute shows that reporting in international TV news and business papers soared already in January, when the ECB started its controversial “extended asset-purchase program”.

“As journalist see the alternatives of a ‘Grexit’ or ongoing transfers to Greece both as a giant threat to the monetary union and – eventually – the future of the European Union, the conviction that Mario Draghi saved the EURO with his pledge in 2012 to do ‘everything what it takes’ is evaporating,” says Dr. Christian Kolmer, Head of Political Research at Media Tenor International. Not only German TV news but as well Handelsblatt, its leading business daily, have been severely critical of the ECB in the first half of 2015.

The negotiation strategy of the Greek government has already exposed a manifest disregard of the democratic norms of the European Union. At the same time the ECB is accused oft stretching its mission, in particular with its extended purchases of sovereign debt. “These developments contribute to the perception that agreed rules are no longer binding for leading players in the EURO zone and undermine confidence in the protagonists,” explains Dr. Kolmer.

“Growing discontent with the ECB became already evident when thousands rioted in Frankfurt on March 18, on the occasion of the ECB’s move into its new headquarters,” concludes Dr. Kolmer. “If Greece is ultimately leaving the EURO zone, the role of the ECB will be questioned more severely”.

For this report 1,806,666 reports about protagonists in 21 international TV news shows and 141,818 reports about protagonists in 5 international business papers have been studied by Media Tenor’s analysts. For 20 years, Media Tenor’s mission has been to contribute to objective, diverse and newsworthy reporting by bringing together the diverse parties who impact and are affected by the news.

For additional information, or to schedule an interview with Media Tenor, please contact:
Dr. Christian Kolmer +49 176 19 13 45 12, Email: This email address is being protected from spambots. You need JavaScript enabled to view it.