ECB's supervisor pick gets Brussels' backing after tough hearing
© Reuters. FILE PHOTO: The new German central bank vice-president Claudia Buch poses during a photocall at the Bundesbank headquarters in Frankfurt, May 20, 2014. REUTERS/Ralph Orlowski/File PhotoFRANKFURT -European lawmakers backed on Wednesday Claudia Buch's appointment as the European Central Bank's top supervisor after a tough hearing, with some raising objections about the legality of her nomination and her qualifications.
Buch was chosen by the European Central Bank last week over Spain's Margarita Delgado, who was the European Parliament's preferred candidate because of her superior experience as a supervisor. The ECB has responded in a legal opinion seen by Reuters, arguing Buch, as an alternate, was not a Governing Council member so that rule did not apply to her.
Buch, 57, recalled her decade as the Bundesbank's board member in charge of financial stability, when she worked closely with bank supervisors and navigated"many difficult situations".
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Reuters Poll: ECB to wait until at least Q3 2024 before cutting rates41 of 70 economists polled by Reuters said that they expect the European Central Bank (ECB) to wait until at least the third quarter of 2024 before lo
Read more »
ECB’s Villeroy: Will maintain its rate at 4% for a sufficiently long timeEuropean Central Bank's (ECB) Governing Council member Francois Villeroy de Galhau said on Tuesday, “ECB will maintain its rate at 4 pct for a suffici
Read more »
Stagflation concerns and ECB at end of tightening cycle may continue to weigh on EUREUR/USD traded a “buy on rumor, sell on fact” into the ECB meeting last week. Economists at OCBC Bank analyze the pair’s outlook. USD to drive directi
Read more »
ECB: Comments suggesting that rate cuts may still be a long way off would be positive for EUREconomists at Commerzbank analyze EUR outlook after the ECB hiked its key rate last Thursday and ECB President Christine Lagarde signalled that the EC
Read more »
European Central Bank (ECB) Supervisory Board Member Jochnick SpeaksGet the ECB's Supervisory Board Member Jochnick Speaks results in real time as they're announced and see the immediate global market impact.
Read more »
Hyundai Motor's South Korea union approves wage deal - union official By ReutersHyundai Motor's South Korea union approves wage deal - union official
Read more »