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Eurozone monetary policy authority
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 .
The executive board consists of the president , the vice-president and four other members, one of whom concurrently serves as ECB chief economist. All members are appointed by the European Council by qualified majority for a non-renewable eight-year term. As an exception, the officeholders appointed to the original board received staged terms 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.
The current members of the ECB Executive Board are as follows:[ 1]
List of Board members [ edit ] The following is a list of past and present members of the Executive Board of the European Central Bank. A member serves for a non renewable term of eight year. Since the ECB was established in 1998, the following people have served as Executive Board members:[ 2]
Status
Italics denotes date of term ending
Name
State
Term start
Term end
Tenure length
Departure reason
Wim Duisenberg Netherlands
1 June 1998
31 October 2003
5 years, 152 days
Resigned
Christian Noyer France
1 June 1998
31 May 2002
3 years, 364 days
Term ended
Sirkka Hämäläinen Finland
1 June 1998
31 May 2003
4 years, 364 days
Term ended
Eugenio Domingo Solans Spain
1 June 1998
31 May 2004
5 years, 365 days
Term ended
Tommaso Padoa-Schioppa Italy
1 June 1998
31 May 2005
6 years, 364 days
Term ended
Otmar Issing Germany
1 June 1998
31 May 2006
7 years, 364 days
Term ended
Lucas Papademos Greece
1 June 2002
31 May 2010
7 years, 364 days
Term ended
Gertrude Tumpel-Gugerell Austria
1 June 2003
31 May 2011
7 years, 364 days
Term ended
Jean-Claude Trichet France
1 November 2003
31 October 2011
7 years, 364 days
Term ended
José Manuel González-Paramo Spain
1 June 2004
31 May 2012
7 years, 365 days
Term ended
Lorenzo Bini Smaghi Italy
1 June 2005
31 December 2011
6 years, 213 days
Resigned
Jürgen Stark Germany
1 June 2006
31 December 2011
5 years, 213 days
Resigned
Vítor Constâncio Portugal
1 June 2010
31 May 2018
7 years, 364 days
Term ended
Peter Praet Belgium
1 June 2011
31 May 2019
7 years, 364 days
Term ended
Mario Draghi Italy
1 November 2011
31 October 2019
7 years, 364 days
Term ended
Jörg Asmussen Germany
1 January 2012
8 January 2014
2 years, 7 days
Resigned
Benoît Cœuré France
1 January 2012
31 December 2019
7 years, 364 days
Term ended
Yves Mersch Luxembourg
15 December 2012
14 December 2020
7 years, 365 days
Term ended
Sabine Lautenschläger Germany
27 January 2014
31 October 2019
5 years, 277 days
Resigned
Luis de Guindos Spain
1 June 2018
31 May 2026
6 years, 174 days
Incumbent
Philip R. Lane Ireland
1 June 2019
31 May 2027
5 years, 174 days
Incumbent
Christine Lagarde France
1 November 2019
31 October 2027
5 years, 21 days
Incumbent
Fabio Panetta Italy
1 January 2020
31 October 2023
3 years, 303 days
Resigned
Isabel Schnabel Germany
1 January 2020
31 December 2027
4 years, 326 days
Incumbent
Frank Elderson Netherlands
15 December 2020
14 December 2028
3 years, 343 days
Incumbent
Piero Cipollone Italy
1 November 2023
31 October 2031
1 year, 21 days
Incumbent
Succession of seats [ edit ]
President
Duisenberg
1 June 1998 –
Trichet
1 November 2003 –
Draghi
1 November 2011 –
Lagarde 1 November 2019 –
Chief Economist
Issing
1 June 1998 –
Stark
1 June 2006 –
Praet
1 January 2012 –
Lane 1 June 2019 –
Presidents Current Former 1 =
President 2 = Vice President 3 = Chief Economist
Christine Lagarde
Luis de Guindos
Philip R. Lane
Isabel Schnabel
Frank Elderson
Piero Cipollone
Finland
Greece
Austria
Portugal
Belgium
Luxembourg
