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Image header Agence Europe
Europe Daily Bulletin No. 9195
Contents Publication in full By article 22 / 43
GENERAL NEWS / (eu) ep/ecb

Parliament ratifies choice of Jürgen Stark as new member of ECB Board

Strasbourg, 18/05/2006 (Agence Europe) - Adopting the report by French Socialist MEP Pervenche Berès, Chairwoman of the economic and monetary affairs committee, by 359 votes to 110, with 35 abstentions, Parliament approved the appointment of Jürgen Stark to the Board of Directors of the European Central Bank (ECB). MEPs thus accepted the choice of Finance Ministers (see EUROPE 9133) and the Board of Governors of the ECB (see EUROPE 9143). Heads of state and government will now formally appoint Mr Stark at the European Council on 15 and 16 June. The plenary debate was short, with the groups generally acknowledging Mr Stark's abilities for the post, with, however, greater or lesser enthusiasm depending on political persuasion. At Mr Stark's hearing before the economic and monetary affairs committee in April (see EUROPE 9174), MEPs expressed their unhappiness at the procedure for nominating ECB Board members. They initially intended to include an annex with their report, with no legal force but detailing their complaints, but the final text simply states that the EP agrees with the nomination of Mr Stark (see EUROPE 9175). Ms Berès has written to Austrian Finance Minister Karl-Heinz Grasser, President of the Council of the EU, to point out the issues identified by the political groups. Some are concerned that considerations of nationality seem to have an influence on how responsibilities are shared within the ECB, some that there is not enough competition for posts (Mr Stark was the sole candidate) and others that the range of experience of possible candidates is too restricted (why not, for example, consider candidates who are not from the inner circle of central banks?).

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THE DAY IN POLITICS
GENERAL NEWS
ECONOMIC INTERPENETRATION