Euro zone finance ministers to choose successor to ECB\'s Praet on Feb. 11

Euro zone finance ministers to choose successor to ECB's Praet on Feb. 11

Reuters  |  BRUSSELS 

(Reuters) - Euro zone finance ministers, the Eurogroup, will choose the successor to at their meeting on Feb. 11, the for the said on Friday.

said euro zone countries would be able to make their bids from Jan. 21 for Praet's position on the ECB's board, which will become vacant from June.

from the 19 countries using the euro will choose from among the candidates with a simple majority vote, in which each country has one vote, irrespective of the size of its economy or population.

The candidate will then go for a hearing in the European Parliament, which issues its non-binding opinion. The parliament's negative opinions have been ignored in the past.

The candidate will be formally appointed by EU leaders at a summit on March 21-22, in a qualified majority vote, reflecting the economic size and population of the voters.

While no candidates have yet been put forward, euro zone officials often mention as

(Reporting By Jan Strupczewski; Editing by Janet Lawrence)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, January 04 2019. 19:44 IST