Appointment of Executive Board Member of the European Central Bank in 2020

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Author (Corporate)
Publication Date 2020
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Summary:

Reports on the nomination process relating to a vacancy at the European Central Bank's Executive Board Member in 2020.

Further information:

Article 283(2) of the Treaty on the Functioning of the European Union (TFEU) specifies that appointments to the ECB Executive Board are made "by the European Council, acting by a qualified majority, from among persons of recognised standing and professional experience in monetary or banking matters, on a recommendation from the Council, after it has consulted the European Parliament and the Governing Council of the European Central Bank." The ECB executive board is responsible for the implementation of euro area monetary policy, as laid down by the ECB governing council.

The Eurogroup agreed on 5 October 2020 to endorse the candidacy of Frank Elderson to replace Yves Mersch, whose mandate comes to an end in December 2020.

Related Link(s)
News
Bloomberg, 11/09/2020: Dutch Nomination Kicks Off Race for Key ECB Job https://www.bloomberg.com/news/articles/2020-09-11/dutch-nominate-elderson-to-kick-off-race-for-key-ecb-job
Bloomberg, 26/09/2020: Tussle for ECB’s Last Big Job for Years Becomes Two-Man Race https://www.bloomberg.com/news/articles/2020-09-26/tussle-for-ecb-s-last-big-job-for-years-becomes-two-man-race
Reuters, 05/10/2020: Euro ministers pick Dutchman Frank Elderson for ECB board job https://www.reuters.com/article/idUSKBN26Q2BU
RTL Today, 07/10/2020: Frank Elderson from the Netherlands could succeed Luxembourg's Yves Mersch https://today.rtl.lu/news/luxembourg/a/1591547.html

Official
General Secretariat of the Council: Infographic: Appointment of the ECB Executive Board https://www.consilium.europa.eu/en/infographics/ecb-executive-board-appointment-procedure/
DNB: Governing Board: Frank Elderson https://www.dnb.nl/en/about-dnb/organisation/directie/dnb343452.jsp
Eurogroup: Statement by President Donohoe on the candidates for the post of ECB executive board member (25 September 2020) https://www.consilium.europa.eu/en/press/press-releases/2020/09/25/statement-by-president-donohoe-on-the-candidates-for-the-post-of-ecb-executive-board-member/
Eurogroup: Press Release, 05/10/2020: ECB Executive Board: Eurogroup gives support to Frank Elderson's candidacy https://www.consilium.europa.eu/en/press/press-releases/2020/10/05/ecb-executive-board-eurogroup-gives-support-to-frank-elderson-s-candidacy/

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