Dutchman Frank Elderson on Tuesday received the green light from the Economic and Monetary affairs committee to sit on the ECB’s executive board.
Following a hearing with the candidate on Monday, committee MEPs on Tuesday voted 33 in favour of Mr Elderson occupying the post. 21 voted against and 3 abstained.
This positive opinion will now be tabled for a plenary vote at the next plenary session of the European Parliament in the last week of November.
Following the vote, the Chair of the committee, Irene Tinagli (S&D, IT) said, "I welcome that Frank Elderson was supported by a clear majority of the ECON committee, following his public hearing in ECON yesterday. Nevertheless, I would like to highlight the Parliament and the economic and monetary committee's general concerns in relation to appointment procedures for positions on the ECB's Executive Board, in particular as regards the issue of gender balance. I reiterate that Parliament has called for improved procedures in this regard and, in particular, for gender-balanced shortlists of candidates for future appointments."
During the hearing, various MEPs in fact expressed displeasure at having again not received a shortlist of candidates which included women. Some MEPs however also said that individual persons with the right credentials should not pay the price for an institutional dispute.
MEPs also discussed the most pressing issues which face the ECB in the coming months and sought Mr Elderson’s views on these. These issues included the role of the ECB in greening the economy, the possibility of the ECB to think outside of its policy box in light of stubbornly low inflation, and the need to address state aid which continues to be delivered to struggling banks despite political will and legislation to avoid this. Questions were also put to Mr Elderson on whether the ECB’s target should be widened to include other goals than price stability, and on the role for the ECB in a single supervisory structure of the Capital Markets Union.
You can watch the hearing again here.