Opinion of the Council of the European Monetary Institute under Article 109l(1) of the Treaty establishing the European Community and Article 50 of the Statute of the European System of Central Banks and of the European Central Bank, on a recommendation from the Council of the European Union for the appointment of the President, the Vice-President and the other members of the Executive Board of the European Central Bank (ECB)
Date: 1998-05-05
Institutions: European Monetary Institute
Subjects: EC opinion, European Central Bank, European Monetary Institute, appointment of staff

C  169/14

EN

Official  Journal  of  the  European  Communities

4.6.98

EUROPEAN  MONETARY  INSTITUTE

OPINION  OF  THE  COUNCIL  OF  THE  EUROPEAN  MONETARY  INSTITUTE

under  Article  109l(1)  of  the  Treaty  establishing  the  European  Community  and  Article  50  of  the
Statute  of  the  European  System  of  Central  Banks  and  of  the  European  Central  Bank,  on  a
recommendation  from  the  Council  of  the  European  Union  for  the  appointment  of  the  President,
the  Vice(cid:220)President  and  the  other  members  of  the  Executive  Board  of  the  European  Central
Bank  (ECB)

(98/C  169/11)

1.(cid:217)The  Council  of  the  European  Monetary  Institute  (EMI)  was  requested  in  a  letter  from  the
President  of  the  Council  dated  2  May  1998  to  deliver  its  opinion  on  a  recommendation  of
the  same  date  by  the  Council  of  the  European  Union  to  the  Governments  of  the  partici(cid:220)
pating  Member  States,  at  the  level  of  the  Heads  of  State  or  Government,  to  appoint:

(a)(cid:217)Willem  Frederik  Duisenberg  as  the  President  of  the  ECB,  for  a  term  of  office  of

eight  years;

(b) Christian  Noyer  as  the  Vice(cid:220)President  of  the  ECB,  for  a  term  of  office  of  four  years;

(c) as  the  other  members  of  the  Executive  Board  of  the  ECB:

(i) Otmar  Issing  for  a  term  of  eight  years;

(ii) Tommaso  Padoa(cid:220)Schioppa  for  a  term  of  seven  years;

(iii) Eugenio  Domingo  Solans  for  a  term  of  six  years;

(iv)(cid:217)Sirkka  H…m…l…inen  for  a  term  of  five  years.

2.(cid:217)The  Council  of  the  EMI  notes  that  the  proposed  candidates  are  persons  of  recognised

standing  and  professional  experience  in  monetary  or  banking  matters.

3.(cid:217)The  Council  of  the  EMI  has  no  objection  to  the  recommendation  relating  to  the

appointment  to  the  Executive  Board  of  the  ECB  of  all  proposed  candidates.

4.(cid:217)The  Vice(cid:220)President  of  the  EMI  has  been  charged  with  forwarding  the  opinion  to  the
Governments  of  the  Kingdom  of  Belgium,  the  Federal  Republic  of  Germany,  the  Kingdom
of  Spain,  the  French  Republic,  Ireland,  the  Italian  Republic,  the  Grand  Duchy  of
Luxembourg,  the  Kingdom  of  the  Netherlands,  the  Republic  of  Austria,  the  Portuguese
Republic  and  the  Republic  of  Finland.

5.(cid:217)This  opinion  shall  be  published  in  the  Official  Journal  of  the  European  Communities.

Done  at  Frankfurt(cid:220)on(cid:220)Main  on  5  May  1998.

For  the  Council  of  the  EMI
The  Vice(cid:220)President

L.(cid:216)A.  ROJO