Melvyn Krauss, Columnist

The ECB Should Choose an Italian to Supervise Banks

The Irish front-runner, Sharon Donnery, is highly competent. But there are weightier considerations.

August 30, 2018 at 5:00 AM UTC

Melvyn Krauss is a senior fellow at the Hoover Institution at Stanford University and an emeritus professor of economics at New York University.

Andrea Enria would make a strong ECB bank watchdog.
Photographer: Simon Dawson/Bloomberg

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It seemed like good news for Europe when Sharon Donnery, deputy governor of the Irish central bank, made an application to be the top banking supervisor at the European Central Bank.

She is widely regarded as extremely competent, has experience in important areas like nonperforming loans, and is a woman in an institution that badly needs women in leadership positions.