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Image header Agence Europe
Europe Daily Bulletin No. 10052
Contents Publication in full By article 13 / 30
GENERAL NEWS / (eu) eu/ecb

EU seeks successor to Lucas Papademos

Brussels, 08/01/2010 (Agence Europe) - The timetable concerning the appointment of the successor to Lucas Papademos of Greece as vice-president of the European Central Bank (ECB) is becoming clearer. The European Parliament's committee on economic and monetary affairs (the EP itself not being consulted) will thus examine the profile of three candidates during a hearing behind closed doors on 14 January. Yves Mersch of Luxembourg (seen by many as the favourite), Peter Praet of Belgium and Vitor Constancio of Portugal are vying with each other to take over from Papademos, who will leave his post on 31 March 2010. After the December Eurogroup (EUROPE 10032), Jean-Claude Juncker had announced that 16 eurozone ministers would attempt to come to an agreement on who should succeed Mr Papademos during their meeting of 18 January. The subject is also expected to be evoked by all member states the next day during the Ecofin Council although the formal proposal may not be made until the following meeting on 16 February (at this stage, the point is on the provisional agenda drawn up by the Spanish EU Presidency). The appointment will be finalised by the heads of state and government during the summit on 25-26 March. We would note that, in accordance with the Lisbon Treaty, members of the ECB Executive Board (president, vice-president and four other members) are designated and nominated by the European Council by qualified majority (Article 283§2 of the treaty on how the EU operates) and no longer by unanimity as before. (A.B./transl.jl)

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