Bank of Finland Governor Liikanen not to run for European Central Bank Board

Finland in favour of northern representative on ECB Board

Erkki Liikanen

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According to Prime Minister Jyrki Katainen’s (Nat. Coalition Party) staff, Bank of Finland Governor Erkki Liikanen will not present himself as a candidate for the Board of Directors of the European Central Bank (ECB).
      A seat on the ECB’s six-strong board will become available in May, when the term of the board’s Spanish member José Manuel González-Páramo comes to an end.
     
Liikanen’s name has been mentioned by the international media amid speculation about a 'shortlist' of potential candidates to replace González-Páramo.
      Prime Minister Katainen has discussed the matter with Liikanen, and Liikanen is not available.
      An assistant to Katainen informed Helsingin Sanomat of the situation on Monday.
      Liikanen is not in the habit of commenting on speculation, the Bank of Finland stated last week.
      Katainen’s assistant also made known the PM's stand, according to which Finland will not place a candidate for the post becoming available.
      Earlier on Monday, the Reuters news agency reported that according to Katainen, Yves Mersch, the Governor of the Central Bank of Luxembourg, shares Finland’s views on a variety of issues.
      The Luxembourg government put Mersch up as a candidate for the post on Friday of last week.
     
According to an unwritten rule, the four largest euro countries, Spain, Italy, Germany, and France, have had their representatives on the European Central Bank Board since the bank was founded in 1998.
      In the present situation the northern member countries, namely Holland, Luxembourg, and Finland, do not have a seat on the board.
      It would be sensible if the ECB Board were also joined in by a member from the northern euro countries, Katainen told Reuters on Monday.


Previously in HS International Edition:
  Finance Minister Jyrki Katainen: Finland not putting Erkki Liikanen forward as candidate for European Central Bank presidency (18.2.2011)

Links:
  European Central Bank
  Bank of Finland: Erkki Liikanen

Helsingin Sanomat