Business Irish

Friday 22 March 2019

Europe rubber-stamps Philip Lane’s appointment to ECB

Success: Philip Lane is a former governor of the Central Bank of Ireland. Photo: Bloomberg
Success: Philip Lane is a former governor of the Central Bank of Ireland. Photo: Bloomberg

Francesco Canepa

The European Parliament has approved Philip Lane’s appointment to the ECB’s board and voted down a motion to delay that and the hiring of another two men to top EU jobs due to gender-­balance considerations.

The appointment of Mr Lane,  a former governor of the Irish Central Bank, was seen as crucial by ECB president Mario Draghi to ensure continued support for his brand of easy-money, market-oriented monetary policy.

The outcome of the vote was stalled briefly when the Greens complained about the all-men trio put forward for that position, the chair of the European Banking Authority and a seat on the Single Resolution Board.

However, the posts were approved by a big majority.

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