91998E1219

WRITTEN QUESTION E-1219/98

by José García-Margallo y Marfil (PPE) to the Commission

(29 April 1998)

Subject: European Central Bank

Pursuant to Article 109a(2)(a) of the EU Treaty the Executive Board of the European Central Bank is to comprise the President, the Vice-President and four other members. Paragraph 2(b) states that they are all to be appointed by common accord of the governments of the Member States at the level of Heads of State or Government, on a recommendation from the Council, after it has consulted the European Parliament and the bank's Governing Council.

Would the Commission say how the selection procedure is to work, so as to ensure that suitable candidates are elected and that there is a balance amongst the various nationalities?

Answer given by Mr de Silguy on behalf of the Commission

(11 June 1998)

The EC Treaty provides that the members of the executive board shall be appointed from among people of recognized standing and professional experience in monetary or banking matters by common accord of the governments of the Member States at the level of heads of state or government.

The procedure leading to the appointment starts with a recommendation from the Council. In its recommendation the Council takes into account that the nominees must be people of recognized standing and professional experience in monetary or banking matters. The Parliament and the governing council of the European central bank (ECB) are consulted on the recommendation from the Council. When the ECB is being established, i.e. concerning the first executive board, the European monetary institute (EMI) council takes the role of the ECB council (Article 109a (2) of the EC Treaty, Article 50 European system of central banks (ESCB) Statute). Both the Parliament and the EMI council or the ECB governing council, respectively, give their opinion on whether the nominees fulfil the above-mentioned requirements.

The Commission has no formal role to play in this procedure.

It is to be noted that the heads of state or government at their meeting on 2 May 1998 stated that they will give appropriate weight and consideration, according to a balanced principle of rotation, in their future decisions under Article 109a (2) of the EC Treaty, to the recommendations for nationals of Member States which do not provide members of the executive board appointed in accordance with Article 50 of the ESCB Statute.