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How are the members of the ECB board named anyway?

ECB: Executive Board

The Executive Board consists of
  • the President
  • Vice-President and
  • four other members
All members are appointed by the European Council, acting by a qualified majority.

But policy is decided by:

ECB: Governing Council

The Governing Council is the main decision-making body of the ECB. It consists of
  • the six members of the Executive Board, plus
  • the governors of the national central banks of the 17 euro area countries.

And according to the treaties, the governors are appointed by the state CB board that is appointed by parliament.

People -> parliament -> CB board -> governor
People -> parliament and/or president -> finance minister -> ECB executive board

Yes, direct elections would be preferable.

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by A swedish kind of death on Sun Mar 17th, 2013 at 03:59:03 PM EST
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