BERLIN (MNI) – Eurozone finance ministers are set to nominate
Luxembourg central bank governor Yves Mersch for a seat on the Executive
Board of the European Central Bank, the German business daily Financial
Times Deutschland (FTD) reported Tuesday, citing Eurozone sources.

The Eurogroup could nominate Mersch at its meeting on Friday, the
paper reported. The necessary majority is assured, according to FTD.

Spain has acknowledged that its candidate, Antonio Sainz de Vicuna,
no longer has a chance of being nominated, the newspaper said. In
return, Spain might demand that one of its nationals be appointed as
head of the planned permanent bailout fund, the European Stability
Mechanism (ESM), the paper said.

–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com

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