PURPOSE: to appoint the Vice-President of the European Central Bank.

LEGISLATIVE ACT: Decision of the European Council 2010/223/EU appointing the Vice-President of the European Central Bank.

PURPOSE: under this Decision, Mr Vítor CONSTÂNCIO is hereby appointed Vice-President of the European Central Bank for a term of office of 8 years.

This appointment takes effect from 1 June 2010.

The European Parliament adopted by 488 votes to 73, with 60 abstentions, a decision on the Council recommendation on the appointment of the Vice-President of the European Central Bank. It delivers a favourable opinion to the European Council on the Council recommendation to appoint Vítor Constâncio as Vice-President of the European Central Bank.

To recall, by letter of 24 February 2010 the Council consulted the European Parliament on the appointment of Vítor Constâncio as Vice-President of the European Central Bank for a term of office of eight years. The Parliament's Committee on Economic and Monetary Affairs evaluated the credentials of the nominee and subsequently held a two-hour hearing with the nominee on 23 March 2010.

The Committee on Economic and Monetary Affairs adopted the report by Sharon Bowles (ALDE, UK) on the Council recommendation on the appointment of the Vice-President of the European Central Bank.

To recall, by letter of 24 February 2010 the Council consulted the European Parliament on the appointment of Vítor Constâncio as Vice-President of the European Central Bank for a term of office of eight years.

The European Parliament's Committee on Economic and Monetary Affairs then proceeded to evaluate the credentials of the nominee. In carrying out this evaluation, the committee received a CV (which is annexed to this report) from the candidate as well as his replies to the written questionnaire that was sent out to him. The committee subsequently held a hearing with the nominee on 23 March 2010. , at which he made an opening statement and then responded to questions from the members of the committee.

The committee recommends that the European Parliament deliver a favourable opinion to the European Council recommendation to appoint Vítor Constâncio as Vice-President of the European Central Bank.

Opinion of the Governing Council of the European Central Bank (ECB) on a Council recommendation on the appointment of the Vice-President of the European Central Bank.

The Council’s recommendation of 24 February 2010, which was submitted to the European Council and on which the European Parliament and the ECB’s Governing Council are being consulted, recommends that Vítor CONSTÂNCIO be appointed as the Vice-President of the ECB for a term of office of eight years with effect from 1 June 2010.

The ECB’s Governing Council is of the opinion that the proposed candidate is a person of recognised standing and professional experience in monetary or banking matters as required by Article 283(2) of the Treaty. The ECB’s Governing Council has no objection to the Council’s recommendation to appoint Vítor CONSTÂNCIO as the Vice-President of the ECB.