Economics
ECB's Empty Chair Embarrassment Leaves Draghi in Pre-Brexit Bind
- Lautenschlaeger ends term at supervisory arm on Monday
- Situation showcases design flaws in governance of watchdog
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Mario Draghi’s inbox for personnel decisions at the European Central Bank is looking rather full.
The ECB president hasn’t picked a new second-in-command for his institution’s supervision arm, meaning the position will be vacant on Monday when Sabine Lautenschlaeger’s stint ends. There’s no indication of a plan to replace her, no evidence of progress in filling two seats on the board that have been empty since 2017, nor the one that will open up when Ignazio Angeloni leaves next month.