ECB opinion on the appointment of a new member of the Executive Board of the ECB

At today’s meeting, the Governing Council of the ECB adopted an opinion on a recommendation from the Council of the European Union on the appointment of a new member of the Executive Board of the ECB.

The Governing Council had no objections to the proposed candidate, Mr Lorenzo Bini Smaghi, who is a person of recognised standing and professional experience in monetary or banking matters, as required by Article 112 (2) (b) of the Treaty establishing the European Community.

Following this ECB opinion and an opinion of the European Parliament, the new member of the Executive Board will be appointed by common accord of the governments of the Member States which have adopted the single currency at the level of Heads of State or Government.

The ECB opinion, which will be published shortly in the Official Journal of the European Union, is available on the ECB’s website in all the official Community languages.