German woman with bank expertise front-runner to join ECB board

Sabine Lautenschlaeger, a German bank supervision expert with no monetary policy record, is an early favorite to replace Joerg Asmussen on the ECB’s executive board after his decision to leave early to spend more time with his family. Lautenschlaeger, 49, who was praised by German Finance Minister Wolfgang Schaeuble on Monday as a worthy candidate to replace Asmussen, is vice president of the Bundesbank and analysts said her appointment could herald a more united, hawkish German stance within the ECB’s rate-setting council. Asmussen acted as a balancing force in his two years at the European Central Bank, siding with President Mario Draghi in a dispute with the Bundesbank over bond-buying at the height of the euro crisis, but more recently opposing the Italian’s push to cut interest rates.


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