MOSCOW, November 29 - RAPSI. The General Court of the European Union (GCEU) held Thursday the European Central Bank (ECB) was justified in refusing access to two documents relating to the current Greek economic situation, affirming that having done so might “undermine the protection of the public interest” with regard to EU and Greek economic policy.

Ordinarily, any EU citizen or resident is entitled to access ECB documents. However, when such might “undermine the protection of the public interest,” the ECB retains the right to refuse disclosure.

In 2010, Bloomberg Finance LP and journalist Gabi Thesing, its employee, filed a claim with the GCEU challenging the ECB’s refusal to produce two documents relating to Greece’s economic situation.

In dismissing the claim launched by Thesing and Bloomberg, the court noted that it found no reason to conclude that disclosure of these two documents would serve the public interest.

The first document contained the views of ECB employees on the economic impact of off-market swaps on government debt and deficit, with a focus on Greece. When Thesing sought its disclosure, the ECB refused on the basis that the information – which was seven months old at that point – was outdated. The ECB reasoned that such outdated information might prove misleading to the public, damaging to the financial markets, and generally threatening to public confidence in EU and Greek economic policy. The GCEU agreed, noting the extreme vulnerability of the European markets and the fragility of Greece’s economy at the time of Thesing’s request was denied.

Citing similarities in the contents of the first and second documents, the GCEU extended its line of reasoning to the second document as well.