Two staff representatives at the European Central Bank complained on Wednesday of a work environment in which dissent is discouraged, potentially hobbling the bank's ability to spot the next financial crisis. Carlos Bowles and Johannes Priesemann told the EU parliament that job insecurity and favouritism were curtailing ECB staff's willingness to speak out and fostering the kind of "groupthink" that blinded institutions to the approach of the 2008 crisis. "(If) only positive messages can make it to the top of the hierarchy ladder ... that has an impact, for instance, on the capacity to identify early indicators of ... (full story)