ECB’s First Irish Board Member Is Now The Focus as Economy Shrinks
If he gets it right, the Philip Lane, a Harvard PhD, will establish his credentials as the institution starts a transition that will also see President Mario Draghi and markets chief Benoit Coeure replaced this year.
The Irishman, the first person from his country to join the ECB’s six-member Executive Board, will immediately be met with a flurry of new data, updated forecasts and a policy meeting at which he’ll present the board’s proposals. It’s a critical moment, with some officials losing confidence in the recovery amid global trade tensions, and investors clamoring for details on upcoming bank loans.
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