ECB's Vasiliauskas Wins New Term as Lithuanian Central Bank Head

Vitas Vasiliauskas, a member of the European Central Bank’s Governing Council, won parliamentary approval for a second term as head of Lithuania’s monetary authority.

Vasiliauskas will remain governor of the Baltic nation’s central bank for another five years after lawmakers backed him 59-23 at a closed-doors vote Thursday in the capital, Vilnius. The 42-year-old, the European Union’s youngest central bank chief, has called for time to allow ECB policies to revive inflation, and hasn’t backed additional stimulus.

He was nominated for a new term by President Dalia Grybauskaite, who worked with him previously at the Finance Ministry. She’s praised his role in helping guide the country of 3 million people into the euro area in 2015, as well as dealing with two banking collapses.

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