Germany proposes Bundesbank deputy for ECB board seat

Germany has proposed Sabine Lautenschlaeger, a vice president at the German Bundesbank, to take the seat on the European Central Bank board that is being vacated by Joerg Asmussen, a government spokesman said on Tuesday. Asmussen announced on Sunday that he would be returning to Berlin after just two years on the ECB’s six-member executive board, to become state secretary in the labor ministry. Replacing him will entail some reshuffling of tasks on the board and comes at a time when the ECB is reaching the limits of its conventional monetary policy and may be forced to explore new ways to keep deflationary risks at bay. Little is known about Lautenschlaeger’s views on monetary policy, but she has a solid track record in banking supervision, having worked at German financial supervisor Bafin before joining the Bundesbank in 2011.


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