June 24, 2011 / 12:01 PM / 8 years ago

Bini Smaghi will cut short ECB post: EU's Van Rompuy

BRUSSELS (Reuters) - European Central Bank Executive Board member Lorenzo Bini Smaghi will step down from his post before his mandate expires, European Council President Herman Van Rompuy said on Friday.

“I spoke to Mr Smaghi this morning by phone and he did tell me personally that he would not see his mandate as a member of the board through to its end and the European Council obviously fully respects the independence of the central bank and of its members,” Van Rompuy told a news conference on the second day of a European summit in Brussels.

“It’s up to Mr Smaghi to decide what timetable he may have,” he added.

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