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17 Dec 2013
German cabinet backs female candidate to replace Asmussen at ECB
FXstreet.com (Łódź) - The German government approved on Tuesday the nomination of Bundesbank Vice President Sabine Lautenschlaeger to replace Joerg Asmussen as ECB's executive board member. The outgoing central banker announced on Sunday that he would take the position of state secretary at the German Labour Ministry and said that his decision was motivated by personal reasons.
On Monday German Finance Minister Wolfgang Schaeuble backed Sabine Lautenschlaeger's nomination, assuring that "she is an excellent Bundesbank vice president." He pointed to her broad experience in banking supervision which would be an asset when the ECB begins to supervise Eurozone's financial institutions.
The appointment Sabine Lautenschlaeger also means that there will be female representation on the central bank's six-member executive board, an issue which has been a subject of heated debate at the European Parliament.
On Monday German Finance Minister Wolfgang Schaeuble backed Sabine Lautenschlaeger's nomination, assuring that "she is an excellent Bundesbank vice president." He pointed to her broad experience in banking supervision which would be an asset when the ECB begins to supervise Eurozone's financial institutions.
The appointment Sabine Lautenschlaeger also means that there will be female representation on the central bank's six-member executive board, an issue which has been a subject of heated debate at the European Parliament.