Lautenschlager gets green light from ECB to take place on board

BUNDESBANK deputy president Sabine Lautenschlager was confirmed as the European Central Bank board’s next member yesterday, as the existing members expressed no objections to her appointment.

A statement released by the bank called Lautenschlager “a person of recognised standing and professional experience in monetary or banking matter” who would be suitable for the open spot on the Eurozone’s panel of rate-setting policymakers.

The change in the board comes after Lautenschlager’s fellow German Joerg Asmussen announced his departure from the ECB in December, saying that he had family reasons for taking up a job as a junior labour minister in chancellor Angela Merkel’s new coalition government.

Lautenschlager will be the first female ECB board member in two and a half years, after Austrian economist Gertrude Tumpel-Gugerell left the central bank in 2011. She will be the third female member in the ECB’s 16-year history.