The European Parliament on Tuesday confirmed Boris Vujčić by a large majority as Vice President of the European Central Bank (ECB).
In a secret ballot at the plenary session of Parliament in Strasbourg, 460 representatives voted ‘for’, while 68 voted ‘against’ the appointment of the Governor of the Croatian National Bank to the ECB. This will be finally confirmed at the EU leaders’ summit on March 19 and 20.
The ECB, an institution based in Frankfurt and led by Christine Lagarde, is the central bank for 20 member states of the euro area, and its primary task is to maintain price stability and manage monetary policy.
Its executive board consists of a president, a vice president, and four other members appointed by the European Council.
All members must be citizens of a euro area member state with a reputation and professional experience in monetary or banking matters, and they are appointed for a non-renewable term of eight years. Vujčić is expected to take office on June 1.
