The European Council today adopted a decision appointing Jörg Asmussen (Germany) member of the executive board of the European Central Bank for a term of eight years asfrom 1 January 2012.
He will succeed Jürgen Stark (Germany), who announced his resignation on 9 September. Mr Stark has agreed to remain in function until his successor takes up his responsibilities.
The executive board of the ECB is responsible for implementation of monetary policy for the euro area, as laid down by the governing council. It is composed of the President, a vice-president and four other members, all nominated for non-renewable terms of eight years. The governing council is composed of the six members of the executive board and the governors of the national central banks of the member states of the euro area.
