CORRECTED - FACTBOX-ECB Governing Council: Who's Who?
(Corrects expiry date of Sramko's term)
Jan. 2 (Reuters) - The European Central Bank's Governing Council swelled to 22 members on Jan. 1 when Slovakia became the 16th country to adopt the euro.
Following is a Who's Who of policymakers on the ECB's Governing Council, which sets policy and decides on interest rates for the countries using the single currency.
The Governing Council consists of the six Executive Board members, plus national central bank governors from each of the 16 euro zone countries.
The six Executive Board members are appointed by EU leaders and are responsible for the day to day running of the euro system.
EXECUTIVE BOARD
JEAN-CLAUDE TRICHET
Born: Dec. 20, 1942, Lyon, France
In office since: Nov. 1, 2003
Term ends: Oct. 31, 2011
Title: President
Responsibilities on Executive Board: Communications, Internal Audit; Secretariat and language services
Background: As Bank of France Governor (1993 to 2003), Trichet pressed for government budget discipline, fending off politicians and top businessmen used to bossing the central bank around. He also copied the German Bundesbank's anti-inflation policies. This won him market respect and brought credibility to the French currency, earning Trichet the nickname "Ayatollah of the strong franc".
Trichet studied civil engineering and holds a master's degree in economics. He followed a traditional political career after attending the elite Ecole Nationale d'Administration (ENA) which has trained generations of French presidents, ministers and civil service mandarins.
He rose to head the French Treasury in 1987 before becoming Bank of France governor in September 1993. Trichet gathered experience as an international financial policymaker during those years, holding posts at the International Monetary Fund, the World Bank and the Paris Club that coordinates sovereign debt restructuring.
LUCAS PAPADEMOS
Born: Oct. 11 1947, Athens, Greece
In office since: June 1, 2002
Term ends: May 31, 2010
Title: Vice President
Responsibilities on Executive Board: Financial stability and supervision; Research
Background: As head of Greece's central bank from 1994-2002, Papademos helped turn his country away from rocketing inflation and high government spending to monetary and fiscal discipline, which earned Greece entry into monetary union far earlier than many had expected. He became a Governing Council member of the ECB in January 2001 when Greece joined the euro.
Before joining the Bank of Greece in 1985, Papademos taught economics at Columbia University in New York and worked as a senior economist at the Federal Reserve Bank of Boston. He holds an undergraduate degree in physics and a doctorate in economics from the Massachusetts Institute of Technology.
Papademos is viewed as a centrist with a practical tilt -- one who has a deep grasp of demand-side economics and the real economy, which he colours with monetary analysis.
JOSE MANUEL GONZALEZ-PARAMO
Born: Aug. 9, 1959, Madrid, Spain
In office since: June 1, 2004
Term ends: May 31, 2012
Title: Executive Board member
Responsibilities on Executive Board: Banknotes; Statistics; Market operations
Background: Gonzalez-Paramo is a budgetary hawk with a reputation for economic orthodoxy and has strong academic credentials. Until joining the ECB he divided his time between the Bank of Spain, where he has been an executive board member since 1998, and the Complutense University, where he has been professor of public finance since 1988.
Gonzalez-Paramo has a doctorate in economics from New York's Columbia University, where he was a Fulbright scholar.
LORENZO BINI SMAGHI
Born: Nov. 29, 1956, Florence, Italy
In office since: June 1, 2005
Term ends: May 31, 2013
Title: Executive Board member
Responsibilities on Executive Board: International and European Relations; ECB Permanent Representation in Washington D.C.; General administration; General legal services.
Bini Smaghi was seen as a pragmatist when he succeeded fellow Italian Tommaso Padoa-Schioppa in 2005. An easy communicator, he has a more approachable manner than is normal for central bankers and is well known to Italian journalists.
Bini Smaghi has a doctorate in economics from the University of Chicago and worked at the ECB in 1998 as deputy director general for research. Before that he spent four years at the European Monetary Institute, the ECB's forerunner. There he was in charge of preparing the ECB's bank supervision, payment systems and market intervention arrangements.
From 1998 to 2005 he was Italy's finance deputy for the Group of Seven industrial nations and vice president of a committee which prepares the agenda for monthly meetings of euro zone finance ministers.
GERTRUDE TUMPEL-GUGERELL
Born: Nov. 11, 1952, Kapelln, Austria
In office since: June 1, 2003
Term ends: May 31, 2011
Title: Executive Board member
Responsibilities on Executive Board: Human resources, budget and organisation; Payment systems and market infrastructure
Background: Tumpel-Gugerell is a career central banker, who joined the Austrian central bank in 1975, while also spending stints at the IMF and as a government adviser. She holds a doctorate in economics and social sciences from the University of Vienna.
She became vice governor of the Austrian central bank in 1998. At the ECB she has been a passionate advocate of integrating the European payment and financial systems.
JUERGEN STARK
Born: May 31, 1948, in Gau-Odernheim, Rhineland-Palatinate, Germany.
In office since: June 1, 2006
Term ends: May 31, 2014
Title: Executive Board member
Responsibilities: Economics; Information systems
Background: A forceful advocate of following Maastricht Treaty rules, he argues for budget discipline and strict adherence to price stability. He is viewed as an inflation hardliner who helps keep the Bundesbank monetarist tradition alive at the ECB.
Named Bundesbank vice president in 1998, he has broad experience in international issues working as its advance man for G7 meetings, works on the EU's economic and finance committee and sits on the ECB's international relations committee. He also sits on the Financial Stability Forum, which monitors global financial risks.
Stark has a doctorate in economics and joined the German economics ministry in 1978 and then the finance ministry before he became a central banker.
GOVERNING COUNCIL
Following are the 16 euro zone country representatives:
AUSTRIA
Ewald Nowotny, Governor, Austrian central bank
Born: June 28, 1944, Vienna, Austria
In office since: Sept. 1, 2008
Term ends: Aug. 31, 2013
BELGIUM
Guy Quaden, Governor, National Bank of Belgium
Born: Aug. 5, 1945, Liege, Belgium
In office since: March 1, 1999
Term ends: 2009 (renewable without limit)
CYPRUS
Athanasios Orphanides, Governor, Central Bank of Cyprus
Born: 22 March 1962, Brno, Czech Republic
In office since: 2 May 2007
Term expires: May 2012
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