Business

Saturday 23 February 2019

Central Bank governor Philip Lane nominated for top role at ECB

Central Bank Governor Philip Lane. Photo: PA
Central Bank Governor Philip Lane. Photo: PA
Gavin McLoughlin

Gavin McLoughlin

Central Bank governor Philip Lane has been formally nominated by Eurozone finance ministers to be the next ECB chief economist.

His appointment is due to be confirmed at an EU summit in March.

His impending elevation comes with current ECB chief economist Peter Praet due to leave at the end of May.

Prof Lane, the only candidate put forward to replace Mr Praet, will have an important role in managing the sluggish Eurozone economy when he takes up his new job.

Prof Lane’s departure will create a race to replace him atop the Central Bank. Central Bank deputy governor Sharon Donnery, and Department of Public Expenditure and Reform secretary general Robert Watt who was pipped by Prof Lane to the post the last time out, could be among the contenders to replace him.

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