PARIS (MNI) – Luxembourg’s Central Bank Governor Yves Mersch will
finally be appointed to the Executive Board of the European Central Bank
on Monday, unless a written objection is lodged by a Eurozone member
state between now and then, MNI has learned.
Mersch was nominated months ago by Eurozone finance ministers to
replace former board member Jose Manuel Gonzalez-Paramo, a Spaniard,
whose term ended on May 31. The seat has been vacant since then because
of political wrangling over Mersch’s nomination.
The European Parliament, which is pushing for legislation that
would require gender equality on the boards of companies in the European
Union, objected to the fact that, with Mersch’s ascension to post, there
would be no woman on the ECB board for the next several years.
The Parliament voted to reject Mersch’s nomination, but it has no
legal veto power. The European Council, the body comprised of the EU’s
heads of state and government, has the authority to confirm Mersch in
the job even over the objection of the Parliament.
The Council has made clear that it will confirm Mersch by Monday if
no objections are registered.
–Paris bureau, +331-42-71-55-40; bwolfson@marketnews.com
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