15/09/2023 (Agence Europe) – Following its meeting in Santiago de Compostela (Spain) on Friday 15 September, the Eurogroup announced its support, as expected, for the candidacy of Piero Cipollone, currently Deputy Governor of the Bank of Italy, as the new member of the Executive Board of the European Central Bank (ECB). The Council of the EU must now adopt a formal recommendation to the European Council. The European Council can then take its final decision, after consulting the European Parliament and the ECB Governing Council (see EUROPE 13247/2). This appointment replaces Fabio Panetta, who will become Governor of the Bank of Italy (see EUROPE 13239/18) and therefore a member of the ECB Governing Council. From 1 November, Mr Panetta will also chair the Committee on Payments and Market Infrastructures of the Bank for International Settlements (see EUROPE 13248/31). (EV)