By Arun Sudhaman
FRANKFURT: The European Central Bank (ECB) is to deploy a major comms push as the Eurozone faces its worst crisis since it launched a decade ago.
The official central bank of the European Union is tendering a lucrative PR contract that encompasses all comms management for the organisation during the next five years.
The tender document reveals that the “most important” project within this framework will be the comms campaign that accompanies the launch of the second series of Euro banknotes in 2011.
Public confidence in the Euro single currency has plunged in recent months, because of a debt crisis that has severely weakened the economies of such Eurozone countries as Greece, Spain and Portugal. Stronger economies within the 16-nation Eurozone, such as Germany and France, have been forced to stump up guarantees of hundreds of billions of Euros to set up a new bailout fund called the European Financial Stability Fund.
Germany alone is pledging 123 billion Euros in guarantees, a move that has sparked a domestic backlash. Markets have taken a dim view of proceedings. Stock markets across Europe have all fallen despite the promise of the new rescue package. The Euro, meanwhile, is trading near a four-year-low against the US dollar.
The tender specifies that as many as five agencies may be selected to participate in a range of “communication projects and campaigns.” Agencies are expected to possess a presence in at least five EU member states, while the deadline for responses is 2 July.
The account is to be led out of the ECB’s HQ in Frankfurt, where its procurement department is overseeing the process.