It’s official: there will be no women on the ECB’s 23-member governing council when Gertrude Tumpell-Gugerell’s term ends in June. Meet Peter Praet, right, the Belgian central bank director who has just been chosen unanimously by EU finance ministers to take the place of Ms TG on the Executive Board.
The other main contender for the seat at the ECB’s top table was Slovak Elena Kohutikova, whose sex many pundits thought would help her beat Mr Praet. Politics trumped, however: her chances were dampened by Slovakia’s refusal to back the €110bn bail-out for Greece, officials said last week. Formal confirmation will take place tomorrow. The appointment of a European “northerner” might be seen to increase the chances of a “southerner” (such as Mario Draghi) for the ECB’s top job – especially given Axel Weber’s exit. Read more