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The world’s monetary floodgates are swinging wide open.
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The Dutch central bank may be grooming an internal candidate to replace President Nout Wellink next year even as political pressure mounts for a “culture change” at the 196 year-old institution, officials and academics say.
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Following is a timeline of the key steps on the road to the euro currency, from the Bretton Woods conference in 1944 to last week’s agreement to set up a “fiscal compact” among countries using the single currency.
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What’s the biggest financial decision facing Europe in 2011? Easy. The choice of a new president at the European Central Bank.
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European Central Bank Governing Council member Nout Wellink said Lex Hoogduin , who leaves the Dutch central bank in July, would be a “good candidate” for the ECB’s executive board.
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Bundesbank President Axel Weber resigned, ending three days of confusion and opening the field for candidates from Finland to Italy to become the next chief of the European Central Bank.
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Spain sought to retain its seat on the European Central Bank’s Executive Board, setting up a potential clash with northern countries that want more control over its policies as the debt crisis persists.
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European Central Bank Governing Council Member Nout Wellink said he would consider replacing President Jean-Claude Trichet if asked.
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When Federal Reserve Chairman Ben S. Bernanke convenes his first press conference next week, he may emphasize a point the markets seem to have forgotten: He’s serious about keeping interest rates low for an "extended period."
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The campaign for the top job at the European Central Bank was thrown open as the sudden and unexplained withdrawal of German front-runner Axel Weber cleared the way for a slew of candidates to replace Jean-Claude Trichet .
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