European Central Bank: Twitter is “no way to nowhere” – economy

Does using Twitter help reach the general public? A fascinating question to which you would like to answer spontaneously with “yes”. But with the European Central Bank, which looked into the subject in a recent study, things are a little different.

For two decades, monetary watchdogs have for the most part acted with scientific reserve and communicated accordingly: expert to expert. No monetary politician to citizen. Even today, the speeches of central bankers are in many cases an impertinence for inexperienced people. Without a master’s degree in economics, you hardly understand anything. ECB President Christine Lagarde wants to change that. When she took office in 2019, she vowed that the central bank should get closer to citizens and communicate more easily.

The Frenchwoman has long answered the question about the benefits of Twitter for herself. At the head of the International Monetary Fund, Lagarde already made extensive use of the social network. It is now followed by 707,000 people, which is about 50,000 more than the ECB can show. Not a day goes by that Lagarde and his team don’t publish anything. In many photos she shares, she shines, seems approachable. In addition, there are summaries of press conferences in short sentences, but also congratulations on the new work of a friend or colleague, as well as praise, for example for constructive meetings with politicians in Brussels. .

Lagarde comes out in society and works on important issues beyond fragile monetary policy, including climate protection and women’s rights. She loves and masters this agenda setting, virtually and in real life. So this week during an on-site visit to Frankfurt. The occasion: 25 years of the Frankfurt Rhein Main business initiative. Lagarde was standing at the desk clad in black and quickly brought the 120 or so guests to his side: a few sentences in German, a short quote from Goethe, the town’s son, plus something personal: “I sometimes cycle around. through Frankfurt Helmet so that no one would recognize me. ”There were already laughs and standing ovations at the end.

It was his first public appearance in Frankfurt since the start of the corona pandemic. The ECB photographer took photos for Lagard’s Twitter account, where they were shared the next day. The text: “We, the ECB, are happy to have Frankfurt and the Rhine-Main region as our home.”

Load content now

Revoke consent and reload the page

Bafin does not tweet at all

Incidentally, the ECB takes Twitter much more seriously than German financial regulator Bafin. The German authority does not have its own account to date. Bafin had to expressly report this again in February, due to current events. “The Bafin was aware of a fake account in his name with the Twitter information service,” said a statement.

But back to the original question and the ECB’s internal study: is the central bank reaching non-experts in the company via Twitter? The simple answer, but compatible with Twitter: The use of the social network is “no way to nowhere”.

Related Articles

Back to top button