Lidstaten schuiven kandidaten naar voren voor topfunctie ECB (en)

EUOBSERVER / BRUSSELS - With one of the members of the European Central Bank's important executive board stepping down at the end of May, member states are jostling amongst each other to find a replacement.

The six-member board - including the President and Vice-President of the Bank - wields a lot of power. Together with the 12 national central bank heads it sets interest rates for the 12 countries that share the euro.

"The professional critieria of the person involved ... is the number one criteria", said Irish Finance Minister Charlie McCreevy on Tuesday (11 February).

But when asked whether geographical considerations and the balance between small and large countries should be taken into account, Mr McCreevy, whose country currently holds the EU Presidency, was more coy.

"I would like to think that considerations will be given to all aspects when appointing candidates", he said.

Although each of the members are supposed to act in the European rather than the national interest, governments naturally push to get 'their' person in where there is a chance that decisions can be influenced.

Big country - small country balance

This is because while all member states are represented once by the head of their central bank, just six are represented twice - meaning two votes - by having a representative in the executive board, as well.

Eugenio Domingo Solans, from Spain, will step down at the end of May. His colleagues on the board come from France (Jean-Claude Trichet), Italy (Tommaso Padoa-Schioppa), Germany (Otmar Issing), Austria (Gertrude Tumpel-Gugerell), and Greece (Lucas D. Papademos).

At the moment just Ireland and Belgium have formally put forward candidates for the position. Dublin is pushing Michael Tutty, the vice-president of the European investment bank, while Belgium is hoping that the director of the national bank, Michael Praet, will be taken on.

Portugal and Spain are also considering putting forward candidates.

However, Germany, is said to be keen to maintain the large country - small country status quo - fearing that small countries will otherwise be over-represented.

The governing council officially takes decisions by simple majority - although it is often by consensus - and has been accused of being opaque as the minutes of the twice-monthly meetings are not published.