ECB should beef up research department, look outside the EU, external review says

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An external evaluation of the European Central Bank's (ECB) directorate general of research, published on Thursday, called on the central bank to increase the size of the department.

The independent review, which was commissioned by the ECB in February 2010, said an increase in "the order of 10% to 20%" – or between five and ten additional staff – was needed to enable the department to expand its work on linkages between the financial and real sectors, stability, imbalances and European Union

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