FRANKFURT Aug 7 The European Central Bank (ECB)
has no plans to end its business relations with U.S. telecoms
firm Verizon Communications Inc, ECB President Mario
Draghi said in response to a query from a member of the European
parliament on Thursday.
The German government said in June it had cancelled a
contract with Verizon as part of an overhaul of its internal
communications, prompted by revelations last year of U.S.
In the letter to Fabio De Masi, Draghi wrote that the ECB
"takes the threat of economic espionage very seriously".
He said the ECB has two arrangements with Verizon: a
framework agreement on the provision of certain internet-related
services, and a contract related to the provision of certain
business continuity services.
Verizon does not provide any telephone-related services to
the ECB, he said. "Following a re-assessment of these
arrangements and in view of its interactions with the provider,
the ECB sees no need to terminate these arrangements," Draghi
said in the letter.
The letter comes two weeks after the ECB said its website
had been hacked and some email addresses and other contact
information stolen, but insisted no market-sensitive data had
To read the full letter, click on: here
(Reporting by Eva Taylor; Editing by David Holmes)