2009/5/EC: Decision of the European Central Bank of 18 December 2008 to postpone the start of the rotation system in the Governing Council of the European Central Bank (ECB/2008/29)
Date: 2008-12-18
Institutions: European Central Bank
Subjects: European Central Bank, European System of Central Banks, appointment of staff, euro, personnel administration, reassignment

L 3/4

EN

Official Journal of the European Union

7.1.2009

(Acts adopted under the EC Treaty/Euratom Treaty whose publication is not obligatory)

II

DECISIONS

EUROPEAN CENTRAL BANK

DECISION OF THE EUROPEAN CENTRAL BANK

of 18 December 2008

to postpone the start of the rotation system in the Governing Council of the European Central
Bank

(ECB/2008/29)

(2009/5/EC)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Statute of the European System of Central
Banks and of the European Central Bank (hereinafter the ‘ESCB
Statute’), and in particular Article 10.2 thereof,

provides that as from the date on which the number of
members of the Governing Council exceeds 21, each
member of the Executive Board will have one vote and
the number of governors with a voting right will be 15.
It also specifies the rules on the rotation of the voting
rights. Under
the
Governing Council, acting by a two-thirds majority of
all
its members, with and without a voting right, may
decide to postpone the start of the rotation system until
the date on which the number of governors exceeds 18.

the sixth indent of Article 10.2,

Whereas:

(1)

Pursuant to Council Decision 2008/608/EC of 8 July
2008 in accordance with Article 122(2) of the Treaty
on the adoption by Slovakia of the single currency on
1 January 2009 (1), Slovakia
the necessary
conditions for adoption of the euro and its derogation
the Act of Accession (2) will be
under Article 4 of
abrogated with effect from 1 January 2009.

fulfils

(3)

(2)

Upon adoption of the euro by Slovakia the number of
the European Central
Governing Council members of
Bank will exceed 21. Article 10.2 of the ESCB Statute

(1) OJ L 195, 24.7.2008, p. 24.
(2) Act concerning the conditions of accession of the Czech Republic,
the Republic of Estonia, the Republic of Cyprus, the Republic of
Latvia,
the
Republic of Malta,
the Republic of
Slovenia and the Slovak Republic and the adjustments to the
Treaties on which the European Union is founded (OJ L 236,
23.9.2003, p. 33).

the Republic of Lithuania,

the Republic of Hungary,

the Republic of Poland,

Recital 6 of Recommendation ECB/2003/1 of 3 February
2003 for a Council Decision on an amendment
to
Article 10.2 of the Statute of the European System of
Central Banks and of the European Central Bank (3) and
recital 6 of Decision 2003/223/EC of
the Council,
meeting in the composition of the Heads of State or
Government, of 21 March 2003 on an amendment to
Article 10.2 of the Statute of the European System of
Central Banks and of the European Central Bank (4) refer
to the possibility of a decision to postpone the start of
the rotation system so as to avoid the situation that
governors within any group have a voting frequency of
100 %. Starting the rotation system when the number of
governors exceeds 15 would require the introduction of
exceptional arrangements to ensure that the first group
of governors would not have a lower voting frequency
than the
ensuring
second group. One option for
fulfilment of this condition would be to allocate five
voting rights to the first group. This would, however,
result in a 100 % voting frequency of the members of

(3) OJ C 29, 7.2.2003, p. 6.
(4) OJ L 83, 1.4.2003, p. 66.

7.1.2009

EN

Official Journal of the European Union

L 3/5

the first group and would be contrary to the intention
that all governors should be subject
to the rotation
system. Alternative arrangements aimed at avoiding a
100 % voting frequency of the first group would add
significant complexity to the rotation system.

(4)

governors

exceeds 18 outweighs

Following thorough deliberation, the Governing Council
concluded that the benefits of postponement until the
the
number of
benefits of implementing the rotation system when the
number of governors exceeds 15, thereby avoiding the
introduction of additional elements of complexity in the
is therefore
transitional
rotation
the
appropriate
system until the number of governors exceeds 18,

two-group rotation system.
start of
to postpone

the

It

HAS DECIDED AS FOLLOWS:

Article 1

The start of the rotation system provided for in Article 10.2 of
the ESCB Statute shall be postponed until the date on which the
number of governors in the Governing Council of the ECB
exceeds 18.

This Decision shall enter into force on 1 January 2009.

Article 2

Done at Frankfurt am Main, 18 December 2008.

The President of the ECB

Jean-Claude TRICHET