Monday, October 3, 2011

Anecdotal composition of ECB's executive board

Mario Draghi, caricature
In case you haven't been extremely interested in the ECB (European Central Bank) you probably don't know too much about the members of the executive board. You might have heard that the current president of the ECB Jean-Claude Trichet, the Frenchman, will hand his duties over to Mario Draghi, the Italian, in November. You might have also heard of Jürgen Stark, the German, who's leaving the ECB for personal reasons even though it is thought (with a high level of probability) that he strongly opposes current market interventions by the ECB. Anyway, what you probably don't know or haven't looked at is the national composition of the ECB starting this November. Here are the 6 members of the executive board:
- Mario Draghi, Italian
- Vítor Constâncio, Portuguese
- Lorenzo Bini Smaghi, Italian
- José Manuel González-Páramo, Spaniard
- Jürgen Stark, German (has resigned and will leave by the end of 2011)
- Peter Praet, Belgium

Notice some familiar pattern here with some troublesome countries? I'm not suggesting that the ECB might be too South European here even though 5/6 of the ECB's executive board is from countries with laissez faire approach to public finances. All the members of the ECB's executive board have been approved by all eurozone members. It is a bit anecdotal though since you would be looking for countries like Germany, Finland and Netherlands to be the guardians of the euro.


  1. hello - would it be OK to use that caricature you have of Draghi on one of my blogs? Happy to link back to this page?
    Many thanks!