Executive Board of the European Central Bank
The Executive Board of the European Central Bank is the organ responsible for implementing monetary policy for the Eurozone in line with the guidelines and decisions taken by the Governing Council of the European Central Bank.
Members of the Executive Board of the European Central Bank are nominated by agreement between the Heads of Government of the Eurozone countries for a non-renewable eight-year term (members nominated in 1998 for the original board had their terms staged so that one would be replaced each year). Under the ECB's rules board members do not represent a particular country, nor are they responsible for keeping track of economic conditions in one country. Instead, all board members are jointly responsible for monetary policy for the entire Euro area. Members generally take office in June.
|Year||Presidents*||Vice-presidents*||Four other executive members|
||Eugenio Domingo Solans
|2004||José Manuel González Paramo
|2005||Lorenzo Bini Smaghi
- * Terms are for Board appointments, not for executive positions
- Marsh, David, "The backroom deal that took bazooka out of ECB’s hands", MarketWatch, June 12, 2014. Draghi took over from Trichet as president in late 2012.