Scholz Suggests Germany Will Propose a Woman for ECB Board Seat

(Bloomberg) -- German Finance Minister Olaf Scholz suggested the country will propose a female candidate to claim the European Central Bank board seat vacated by Sabine Lautenschlaeger later this month.

In an interview with German NTV television, Scholz said he expects the appointment to be sorted “very speedily” once the process is launched. Euro-area finance ministers will be invited at a meeting later on Wednesday to put forward nominations.

“In the society we live in, we always have to look at how these boards are composed,” Scholz was quoted as saying in a transcript on NTV’s website. “Exclusive male clubs aren’t a good idea.”

Read More: Germany Starts Hunt for a Central Banker Who Can Stick With ECB

Lautenschlaeger, the only woman on the ECB’s Executive Board, unexpectedly announced her resignation last month -- more than two years before her term was due to expire.

The Eurogroup is set to decide on a successor in November. While Germany has no automatic claim on the position, Europe’s largest economy is unlikely to be challenged by other countries.

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