In a move that was widely expected, Ireland’s Philip Lane is set to succeed Peter Praet as the Eurozone’s chief economist.
Lane, the Central Bank of Ireland’s Governor since November 2015, making him a member of the Governing Council and General Council of the European Central Bank (ECB).
The European Council’s recommendation concerning Lane’s candidacy should be formally adopted by the EU finance ministers on February 12 at the Economic and Financial Affairs Council, or ECOFIN, prior to consulting both the European Parliament and the Governing Council of the ECB.
The decision will be finalised on March 22-23 during a meeting of the finance ministers.
Lane’s term as the Eurozone’s chief economist will be for a non-renewable, 8-year term that begins on June 1.
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