Boris Vujčić gets EP green light for ECB Vice-President

The Committee on Economic and Monetary Affairs has approved the nomination of Boris Vujčić as the new Vice-President of the European Central Bank. “The decision gives the green light to Vujčić, who made a strong impression during the hearing before the Committee,” said MEP Markus Ferber, EPP spokesperson for Economic and Monetary Affairs.

“Boris Vujčić has shown that he clearly understands the ECB's mandate and can realistically meet the challenges for the coming years. In the current circumstances, the ECB needs leaders who are committed to stability, pragmatism and clear communication,” stressed Markus Ferber.

Vujčić was heard by the Committee on Economic and Monetary Affairs on Wednesday, which gave a positive recommendation today. He also received the support of the ECB's Governing Council on Wednesday. The Committee's recommendation will be voted on at the European Parliament plenary session in March, after which Vujčić's election will be definitively confirmed at the EU leaders' summit on 19 and 20 March.

On 19 January, euro area finance ministers nominated Croatian National Bank Governor Boris Vujčić as Vice-President of the European Central Bank. The ECB's Executive Board consists of a President, a Vice-President and four other members appointed by the European Council.

All members must be nationals of a euro area Member State with recognised standing and professional experience in monetary or banking matters, and are appointed for a non-renewable term of eight years. Vujčić is due to take up his post on 1 June.

Source: HRT