Several Central and Eastern European countries that are members of the euro area are mobilising to obtain, for the first time, seats on the Executive Board of the European Central Bank (ECB), while several positions will be vacant between now and the end of 2027, starting with the vice-presidency of the Frankfurt monetary institute in May 2026.
On the eve of the deadline for applications for the ECB vice-presidency, the Croatian authorities appointed Boris Vujčić, the country’s central banker, on Thursday 8 January. The day before, Lithuania had put forward the candidacy of Rimantas Šadžius, the unsuccessful candidate in the race for the Presidency of the Eurogroup in June 2025 (see EUROPE 13675/2).
“Rimantas Šadžius’ long experience as Finance Minister, particularly during Lithuania’s accession to the euro area in 2015, is invaluable and deserves to be put to good use at European level,” stressed Finance Minister Kristupas Vaitiekūnas in a statement, noting that the ECB’s Executive Committee does not currently include any representatives from the Member States that joined the EU after 2004. In his view, “an adequate geographical balance is an essential precondition for the legitimacy and effectiveness of all EU institutions”.
See the press release from the Lithuanian authorities: https://aeur.eu/f/k73
Other candidates include Estonian central banker Madis Müller, Latvian central banker Mārtiņš Kazāks and Finnish central banker Olli Rehn. He was European Commissioner for Economic and Financial Affairs during the euro area’s sovereign debt crisis. Portugal’s Marío Centeno, President of the Eurogroup from January 2018 to July 2020, could also be in the running.
On Monday 19 January, the Eurogroup will vote on Mr de Guindos’ successor as Vice-President of the ECB.
Three other terms on the ECB’s Executive Board, including that of the President, Christine Lagarde, will expire between now and the end of 2027. (Original version in French by Mathieu Bion)