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Despite the European Central Bank (ECB) having signed an addendum to the social dialogue contract with trade unions that provides for true consultation on the implementation of the Single Supervisory Mechanism (SSM), the actual plenary meeting of the Social Dialogue offered little new insight. Most of the trade union’s questions on future working conditions and HR policies within the new SSM framework remain unanswered. The plenary meeting took place on 18-19 September 2014.

The three trade union federations organising employees in Europe’s central banks, UNI Europa Finance, EPSU and SCECBU, voiced their disappointment over the lack of information in the frame of the social dialogue. They also criticise the absence of a Member of the Board of the ECB during the plenary session. In previous sessions, the Executive Board had been represented and trade unions appreciated this presence as a sign of respect and interest by the ECB to have a true dialogue at eye level. Especially now with the SSM being implemented, a good dialogue is more important than ever.

With a letter to President Mario Draghi and Peter Praet of the Executive Board, the three trade union federations ask for another SSM consultation meeting in 2014, urging the ECB to keep the promise of better consultation on this topic in the future.

The picture shows representatives of the three trade union federations with ECB President Mario Draghi at the signing of the addendum concerning consultation of trade unions on the practical implementation of the SSM.