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Mersch to join ECB board despite EU parliament rejection: report
October 14, 2012 / 6:07 PM / in 5 years

Mersch to join ECB board despite EU parliament rejection: report

BERLIN (Reuters) - Luxembourg central banker Yves Mersch is set to be appointed to the European Central Bank’s executive board despite opposition from the European Parliament, Germany’s Sueddeutsche Zeitung said in an article due to be published on Monday.

Mersch could join the board by mid-November, the newspaper said, citing high-ranking sources at the International Monetary Fund meeting in Tokyo.

ECB President Mario Draghi said on Tuesday that the executive board of the euro zone’s central bank should, especially in times of crisis, be completed and that Mersch’s nomination should go through.

Leading lawmakers from six of the largest political groupings in the European Parliament have agreed to reject Mersch, 63, on grounds of systemic gender bias at the ECB.

EU leaders can still appoint Mersch over and above the European Parliament’s objections, but the parliament’s move makes it politically more difficult for that to happen.

A hearing into Mersch’s candidacy is due to go ahead on October 22.

The newspaper said the Eurogroup of euro zone finance ministers, who want Mersch to join the executive board, expected parliamentarians to reject Mersch’s candidacy but thought he would become an executive board member anyway.

Euro zone finance ministers nominated Mersch for the executive board post in July.

Reporting by Michelle Martin

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