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EU Parliament Panel Plans Negative Opinion on Mersch Role

Oct. 11 (Bloomberg) -- The European Parliament’s Economic and Monetary Affairs Committee will issue a negative opinion on the nomination of Luxembourg’s Yves Mersch to the European Central Bank’s Executive Board, lawmaker Sylvie Goulard said.

“A negative recommendation would be adopted based on the failure by the Council to respect the demands laid down by the EP well ahead of the procedure, in a spirit of sincere cooperation and aiming at respecting a wider diversity of origins (notably the gender balance),” Goulard said in an e-mailed statement today. “No judgment would be made on the competences of the candidate.”

Mersch’s nomination was put in limbo last month when the committee objected to the lack of female candidates for the post and postponed a planned hearing. The ECB seat has been empty since June 1. Mersch, the euro region’s longest serving central banker, was selected by European finance ministers in July. The committee will hold a hearing on Mersch’s candidacy on Oct. 22.

Luxembourg Prime Minister Jean-Claude Juncker said Oct. 5 that the parliament doesn’t have the legal authority to stop Mersch’s candidacy. Euro-region leaders will give the final nod.

To contact the reporter on this story: Stephanie Bodoni in Brussels at sbodoni@bloomberg.net

To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net

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