09/10/2019 (Agence Europe) – On Wednesday 9 October, the Eurogroup supported Fabio Panetta's candidacy for the post of new member to the European Central Bank's Executive Board. Fabio Panetta is currently the Deputy Governor of the Banca d'Italia. This recommendation, which will be formally adopted by the Ecofin Council on Thursday 10 October, will be forwarded to the European Council, which will adopt its final decision by the end of the year. The new member of the Executive Board shall replace the Frenchman Benoît Coeuré, whose non-renewable eight-year term of office comes to an end at the end of December. This situation is allowed with the assumption of office at the beginning of November by the Frenchwoman, Christine Lagarde who is at the head of the ECB, and is replacing the Italian, Mario Draghi. (MB)