Eurozone monetary policy authority
The Executive Board of the European Central Bank is the organ responsible for implementing monetary policy for the Eurozone in line with the guidelines and decisions taken by the Governing Council of the European Central Bank .
The Executive Board consists of the President , the Vice-President and four other members, one of whom concurrently serves as ECB chief economist. All members are appointed by the European Council by qualified majority for a non-renewable eight-year term. As an exception, the officeholders appointed to the original Board received staged terms so that one would be replaced each year. Under the ECB's rules board members do not represent a particular country, nor are they responsible for keeping track of economic conditions in one country. Instead, all board members are jointly responsible for monetary policy for the entire Euro area.
Current members
The current members of the ECB Executive Board are as follows:[ 1]
List of Board members
The following is a list of past and present members of the Executive Board of the European Central Bank. A member serves for a non renewable term of eight year. Since the ECB was established in 1998, the following people have served as Executive Board members:[ 2]
Status
Italics denotes date of term ending
Name
State
Term start
Term end
Tenure length
Departure reason
Wim Duisenberg
Netherlands
1 June 1998
31 October 2003
5 years, 152 days
Resigned
Christian Noyer
France
1 June 1998
31 May 2002
3 years, 364 days
Term ended
Sirkka Hämäläinen
Finland
1 June 1998
31 May 2003
4 years, 364 days
Term ended
Eugenio Domingo Solans
Spain
1 June 1998
31 May 2004
5 years, 365 days
Term ended
Tommaso Padoa-Schioppa
Italy
1 June 1998
31 May 2005
6 years, 364 days
Term ended
Otmar Issing
Germany
1 June 1998
31 May 2006
7 years, 364 days
Term ended
Lucas Papademos
Greece
1 June 2002
31 May 2010
7 years, 364 days
Term ended
Gertrude Tumpel-Gugerell
Austria
1 June 2003
31 May 2011
7 years, 364 days
Term ended
Jean-Claude Trichet
France
1 November 2003
31 October 2011
7 years, 364 days
Term ended
José Manuel González-Paramo
Spain
1 June 2004
31 May 2012
7 years, 365 days
Term ended
Lorenzo Bini Smaghi
Italy
1 June 2005
31 December 2011
6 years, 213 days
Resigned
Jürgen Stark
Germany
1 June 2006
31 December 2011
5 years, 213 days
Resigned
Vítor Constâncio
Portugal
1 June 2010
31 May 2018
7 years, 364 days
Term ended
Peter Praet
Belgium
1 June 2011
31 May 2019
7 years, 364 days
Term ended
Mario Draghi
Italy
1 November 2011
31 October 2019
7 years, 364 days
Term ended
Jörg Asmussen
Germany
1 January 2012
8 January 2014
2 years, 7 days
Resigned
Benoît Cœuré
France
1 January 2012
31 December 2019
7 years, 364 days
Term ended
Yves Mersch
Luxembourg
15 December 2012
14 December 2020
7 years, 365 days
Term ended
Sabine Lautenschläger
Germany
27 January 2014
31 October 2019
5 years, 277 days
Resigned
Luis de Guindos
Spain
1 June 2018
31 May 2026
6 years, 91 days
Incumbent
Philip R. Lane
Ireland
1 June 2019
31 May 2027
5 years, 91 days
Incumbent
Christine Lagarde
France
1 November 2019
31 October 2027
4 years, 304 days
Incumbent
Fabio Panetta
Italy
1 January 2020
31 October 2023
3 years, 303 days
Resigned
Isabel Schnabel
Germany
1 January 2020
31 December 2027
4 years, 243 days
Incumbent
Frank Elderson
Netherlands
15 December 2020
14 December 2028
3 years, 260 days
Incumbent
Piero Cipollone
Italy
1 November 2023
31 October 2031
304 days
Incumbent
Succession of seats
President
Duisenberg
1 June 1998 – 31 October 2003
Trichet
1 November 2003 – 31 October 2011
Draghi
1 November 2011 – 31 October 2019
Lagarde
1 November 2019 – present
Chief Economist (non-statutory position)
Issing
1 June 1998 – 31 May 2006
Stark
1 June 2006 – 31 December 2011
Praet
1 January 2012 – 31 May 2019
Lane
1 June 2019 – present
See also
References
External links
Presidents Current Members Former Members 1 =
President 2 = Vice President 3 = Chief Economist