Europe Delays ECB Nomination as France Resists Backing Mersch
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Euro-area finance ministers put off a decision on filling an upcoming vacancy on the European Central Bank’s Executive Board as France resisted endorsing the front-running candidate, Luxembourg’s Yves Mersch.
“We need time,” French Finance Minister Francois Baroin told reporters yesterday at a meeting of the finance ministers in Copenhagen. “We need a global accord” that includes decisions on posts such as chairman of euro finance meetings and the head of the European Stability Mechanism, he said.