The Executive Board of the European Central Bank is the organ responsible for implementing
monetary policy
Monetary policy is the policy adopted by the monetary authority of a nation to control either the interest rate payable for very short-term borrowing (borrowing by banks from each other to meet their short-term needs) or the money supply, often a ...
for the
Eurozone
The euro area, commonly called eurozone (EZ), is a currency union of 19 member states of the European Union (EU) that have adopted the euro ( €) as their primary currency and sole legal tender, and have thus fully implemented EMU polici ...
President
President most commonly refers to:
*President (corporate title)
* President (education), a leader of a college or university
* President (government title)
President may also refer to:
Automobiles
* Nissan President, a 1966–2010 Japanese ...
, 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.
Current members
The current members of the ECB Executive Board are as follows:
List of Board members
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:
Status
*''Italics'' denotes date of term ending
Succession of seats
{, class="wikitable"
, -
! colspan="2" style="background-color:#2549a5; color:#ffcc00 , President
, -
, Duisenberg , , {{nowrap, 1 June 1998 – 31 October 2003
, -
, Trichet , , {{nowrap, 1 November 2003 – 31 October 2011
, -
, Draghi , , {{nowrap, 1 November 2011 – 31 October 2019
, -
, Lagarde , , {{nowrap, 1 November 2019 – ''present''
{{Col-3
{, class="wikitable"
, -
! colspan="2" style="background:#003399; color:#FFCC00 , Vice-President
, -
, Noyer , , {{nowrap, 1 June 1998 – 31 May 2002
, -
, Papademos , , {{nowrap, 1 June 2002 – 31 May 2010
, -
, Constâncio , , {{nowrap, 1 June 2010 – 31 May 2018
, -
, de Guindos , , {{nowrap, 1 June 2018 – ''present''
{{Col-3
{, class="wikitable"
, -
! colspan="2" style="background:#003399; color:#FFCC00 , Chief Economist (non-statutory position)
, -
, Issing , , {{nowrap, 1 June 1998 – 31 May 2006
, -
, Stark , , {{nowrap, 1 June 2006 – 31 December 2011
, -
, Praet , , {{nowrap, 1 January 2012 – 31 May 2019
, -
,
Lane
In road transport, a lane is part of a roadway that is designated to be used by a single line of vehicles to control and guide drivers and reduce traffic conflicts. Most public roads (highways) have at least two lanes, one for traffic in each ...
Hämäläinen
Hämäläinen is a surname originating in Finland (in Finnish, it means " Tavastian"), where it is the sixth most common"Most common surnames"Tumpel-Gugerell , , {{nowrap, 1 June 2003 – 31 May 2011
, -
, Praet , , {{nowrap, 1 June 2011 – 31 May 2019
, -
,
Lane
In road transport, a lane is part of a roadway that is designated to be used by a single line of vehicles to control and guide drivers and reduce traffic conflicts. Most public roads (highways) have at least two lanes, one for traffic in each ...
Mersch
Mersch ( ) is a commune and town in central Luxembourg, capital of the canton of Mersch. It is situated at the confluence of the rivers Alzette, Mamer and Eisch.
, the town of Mersch, which lies in the centre of the commune, has a population o ...
, , {{nowrap, 15 December 2012 – 14 December 2020
, -
, Elderson , , {{nowrap, 15 December 2020 – ''present''
{{col-end
{{Col-begin
{{Col-3
{, class="wikitable"
, -
! colspan="2" style="background:#003399; color:#FFCC00 , Seat 3
, -
, Padoa-Schioppa , , {{nowrap, 1 June 1998 – 31 May 2005
, -
, Smaghi , , {{nowrap, 1 June 2005 – 31 December 2011
, -
, Cœuré , , {{nowrap, 1 January 2012 – 31 December 2019
, -
, Panetta , , {{nowrap, 1 January 2020 – ''present''
{{Col-3
{, class="wikitable"
, -
! colspan="2" style="background:#003399; color:#FFCC00 , Seat 4
, -
, Issing , , {{nowrap, 1 June 1998 – 31 May 2006
, -
, Stark , , {{nowrap, 1 June 2006 – 31 December 2011
, -
, Asmussen , , {{nowrap, 1 January 2012 – 8 January 2014
, -
, Lautenschläger , , {{nowrap, 27 January 2014 – 31 October 2019
, -
, Schnabel , , {{nowrap, 1 January 2020 – ''present''
{{col-end
Executive Board
A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organiz ...