Ireland's bid to have its representative appointed to the executive board of the European Central Bank (ECB) has suffered a setback, with increasing indications that the bigger countries will seek to appoint their own nominee.
Germany yesterday signalled its potential opposition to bids by Ireland and Belgium to secure a position on the executive board of the ECB. Ireland has put forward Mr Michael Tutty, a former senior civil servant who is now a vice-president at the European Investment Bank.
The euro-zone finance ministers are considering their proposals for candidates to succeed Spain's Mr Eugenio Domingo Solans when he steps down from the board in May. Belgium and Ireland are the only two countries to propose candidates so far.
But one senior German government official told Reuters news agency that the make-up of the ECB's six-member executive board should reflect the euro zone's biggest economies.
"It makes sense that a healthy majority of euro-zone gross domestic product is represented in the European Central Bank's executive board and it is against this background that personnel decisions should be taken," said the official, who declined to be identified.
The German government was approaching the current debate over who should succeed Mr Solans with this in mind, he added.
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