|Female banker on board at ECB executive club
The European Central Bank gave the green light to the appointment of a woman to its all-male executive board.
Earlier this week, the Council of EU member states named Germany's Sabine Lautenschlaeger to the ECB's executive board, replacing compatriot Joerg Asmussen.
The ECB's decision-making governing council has now approved the appointment, the central bank said in a statement.
“The governing council has 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 statement said.
“The governing council had no objections to the proposed candidate, Sabine Lautenschlger, who is a person of recognized standing and professional experience in monetary or banking matters.''
Lautenschlaeger, 49, is currently a vice-president in charge of overseeing credit institutions at the German central bank.
Her background will prove useful as the ECB, formally tasked with monetary policy, this year takes on a new role in supervising the banking system of the 18-member euro zone.
Following the ECB's approval, the nomination must also be given the thumbs up by the European Parliament and then the EU's national leaders have the final say.
While the governing council is the ECB's main decision-making body, it is the six-member executive board that is responsible for the day-to-day running of the central bank.
Its members serve for a single term of eight years.—AFP