The Executive Board of the European Central Bank is the organ responsible for implementing monetary policy for the Eurozone in line with the guidelines and decisions taken by the Governing Council of the European Central Bank.

The Executive Board consists of the President, the Vice-President and four other members, one of whom concurrently serves as ECB chief economist. All members are appointed by the European Council by qualified majority for a non-renewable eight-year term. As an exception, the officeholders appointed to the original Board received staged terms so that one would be replaced each year. Under the ECB's rules board members do not represent a particular country, nor are they responsible for keeping track of economic conditions in one country. Instead, all board members are jointly responsible for monetary policy for the entire Euro area.

Current members

The current members of the ECB Executive Board are as follows:[1]

Composition of the Executive Board
Name Position Terms of office
Executive Board France Christine Lagarde President 1 November 2019 31 October 2027
Spain Luis de Guindos Vice President 1 June 2018 31 May 2026
Republic of Ireland Philip R. Lane Member
Chief Economist		 1 June 2019 31 May 2027
Germany Isabel Schnabel Member 1 January 2020 31 December 2027
Netherlands Frank Elderson Member 15 December 2020 14 December 2028
Italy Piero Cipollone Member 1 November 2023 31 October 2031

List of Board members

The following is a list of past and present members of the Executive Board of the European Central Bank. A member serves for a non renewable term of eight year. Since the ECB was established in 1998, the following people have served as Executive Board members:[2]

Status

  Denotes a current member
  • Italics denotes date of term ending
Name State Term start Term end Tenure length Departure reason
Wim Duisenberg  Netherlands 1 June 1998 31 October 2003 5 years, 152 days Resigned
Christian Noyer  France 1 June 1998 31 May 2002 3 years, 364 days Term ended
Sirkka Hämäläinen  Finland 1 June 1998 31 May 2003 4 years, 364 days Term ended
Eugenio Domingo Solans  Spain 1 June 1998 31 May 2004 5 years, 365 days Term ended
Tommaso Padoa-Schioppa  Italy 1 June 1998 31 May 2005 6 years, 364 days Term ended
Otmar Issing  Germany 1 June 1998 31 May 2006 7 years, 364 days Term ended
Lucas Papademos  Greece 1 June 2002 31 May 2010 7 years, 364 days Term ended
Gertrude Tumpel-Gugerell  Austria 1 June 2003 31 May 2011 7 years, 364 days Term ended
Jean-Claude Trichet  France 1 November 2003 31 October 2011 7 years, 364 days Term ended
José Manuel González-Paramo  Spain 1 June 2004 31 May 2012 7 years, 365 days Term ended
Lorenzo Bini Smaghi  Italy 1 June 2005 31 December 2011 6 years, 213 days Resigned
Jürgen Stark  Germany 1 June 2006 31 December 2011 5 years, 213 days Resigned
Vítor Constâncio  Portugal 1 June 2010 31 May 2018 7 years, 364 days Term ended
Peter Praet  Belgium 1 June 2011 31 May 2019 7 years, 364 days Term ended
Mario Draghi  Italy 1 November 2011 31 October 2019 7 years, 364 days Term ended
Jörg Asmussen  Germany 1 January 2012 8 January 2014 2 years, 7 days Resigned
Benoît Cœuré  France 1 January 2012 31 December 2019 7 years, 364 days Term ended
Yves Mersch  Luxembourg 15 December 2012 14 December 2020 7 years, 365 days Term ended
Sabine Lautenschläger  Germany 27 January 2014 31 October 2019 5 years, 277 days Resigned
Luis de Guindos  Spain 1 June 2018 31 May 2026 5 years, 213 days Incumbent
Philip R. Lane  Ireland 1 June 2019 31 May 2027 4 years, 213 days Incumbent
Christine Lagarde  France 1 November 2019 31 October 2027 4 years, 60 days Incumbent
Fabio Panetta  Italy 1 January 2020 31 October 2023 3 years, 303 days Resigned
Isabel Schnabel  Germany 1 January 2020 31 December 2027 3 years, 364 days Incumbent
Frank Elderson  Netherlands 15 December 2020 14 December 2028 3 years, 16 days Incumbent
Piero Cipollone  Italy 1 November 2023 31 October 2031 60 days Incumbent

Succession of seats

See also

References

  1. ↑ "Members of the Executive Board". ecb.europa.eu. December 15, 2020. Retrieved December 14, 2020.
  2. ↑ "Executive Board members – terms of office". ecb.europa.eu. December 15, 2020. Retrieved December 14, 2020.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.