ECB: Peter Praet To Take Charge Of Economics On Exec Board

FRANKFURT (MNI) – ECB Executive Board member Peter Praet, a
Belgian, will assume the position of chief economist previously held by
German nationals, most recently Juergen Stark, the ECB said Tuesday.

Germany’s representative on the board, Joerg Asmussen, will be
responsible for international and European relations, representing the
central bank, along with President Mario Draghi or Vice President Vitor
Constancio, at the Eurogroup of EMU finance ministers, the Ecofin of
EU finance ministers and the G-20.

France’s new board representative, Benoit Coeure, becomes
responsible for information and payments systems and will head market
operations at the ECB starting in March, taking over from Jose Manuel
Gonzalez-Paramo, who is in charge of research and statistics.

Draghi will remain responsible for communications and the counsel
to the Executive Board. Constancio will remain responsible for
administration, financial stability and the oversight of payment
systems.

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