Bini Smaghi’s Resignation From ECB Opens Board Seat for France

Lorenzo Bini Smaghi resigned from the European Central Bank’s Executive Board, clearing the way for France to regain a seat after the retirement last month of President Jean-Claude Trichet.

Bini Smaghi, whose term officially ends in May 2013, will join Harvard University’s Center for International Affairs on Jan. 1, 2012, the Frankfurt-based ECB said in an e-mailed statement yesterday. ECB President Mario Draghi thanked Bini Smaghi for his “contributions in the field of European and international monetary and economic affairs over many years.”