With all the controversy surrounding succession at the head of the European Central Bank, at least European finance ministers could agree on another ECB succession challenge with quite a bit less conflict.
Peter Praet, a regulation expert from Belgium, has been selected to replace Austria’s Gertrude Tempell-Gugerell on the European Central Bank’s governing council, eurozone finance ministers unanimously agreed during their afternoon gathering in Brussels.
The outcome doesn’t come as much of a surprise: the only other nominee, Slovakia’s Elena Kohutikova, had a lacklustre hearing at the European parliament, even as Praet’s star continued to rise.
But his nomination means there will be no women on the 23-member council, comprised of 17 central bankers from the countries that use the euro, and six executive board members, of which Praet will be one. Read more