PURPOSE: appointment of Benoît COEURÉ as a member of the Executive Board of the European Central Bank.

NON-LEGISLATIVE ACT: European Council Decision 2011/897/EU appointing a member of the Executive Board of the European Central Bank.

CONTENT: by letter dated 10 November 2011, the President of the European Central Bank, Mr Mario DRAGHI announced the decision of Mr Lorenzo BINI SMAGHI to resign from his position on the Executive Board with effect from the end of 31 December 2011. It is therefore necessary to appoint a new member of the Executive Board of the European Central Bank.

The European Council wishes to appoint Mr Benoît COEURÉ who, in its view, fulfils all the requirements set out in Article 283(2) of the Treaty.

By this Decision, Mr Benoît COEURÉ is appointed a member of the Executive Board of the European Central Bank for a term of office of eight years as from 1 January 2012.

ENTRY INTO FORCE: 19/12/2011.

The European Parliament adopted by 566 votes to 67, with 50 abstentions, a decision in which it gave a favourable opinion on the Council recommendation to appoint Benoît Coeuré (FR) as a Member of the Executive Board of the European Central Bank for a term of office of 8 years from 1 December 2011.

The Committee on Economic and Monetary Affairs unanimously adopted the report drafted by Sharon BOWLES (ADLE, UK) in which it calls for a favourable opinion to be delivered on the Council recommendation to appoint Benoît Coeuré (FR) as a Member of the Executive Board of the European Central Bank for a term of office of eight years.

Parliament's Committee on Economic and Monetary Affairs evaluated the credentials of the nominee, in particular in view of the requirements laid down in Article 283(2) of the Treaty on the Functioning of the European Union (TFEU) and in the light of the need for full independence of the European Central Bank pursuant to Article 130 TFEU.

On 1 December 2011, the European Central Bank (ECB) received a request from the President of the European Council for an opinion on a Council Recommendation of 30 November 2011 on the appointment of a member of the Executive Board of the European Central Bank.

The Council’s recommendation, which was submitted to the European Council, and on which the European Parliament and the ECB’s Governing Council are being consulted, recommends appointing Benoît COEURÉ as a member of the ECB’s Executive Board for a term of office of eight years.

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. Accordingly, the ECB’s Governing Council has no objection to the Council’s recommendation to appoint Benoît COEURÉ as a member of the ECB’s Executive Board.

PURPOSE: the appointment of a member of the European Central Bank (ECB).

PROPOSED ACT: Recommendation of the Council.

LEGAL BASIS: Article 283 (2) of the Treaty on the Functioning of the European Union (TFEU).

CONTENT: in view of the resignation of Lorenzo BINI SMAGHI, with effect from 31 December 2011 from his post as member of the ECB, it is proposed to appoint Benoît COEURÉ as member of the Executive Board of the ECB in his place for a period of 8 years.

PURPOSE: the appointment of a member of the European Central Bank (ECB).

PROPOSED ACT: Recommendation of the Council.

LEGAL BASIS: Article 283 (2) of the Treaty on the Functioning of the European Union (TFEU).

CONTENT: in view of the resignation of Lorenzo BINI SMAGHI, with effect from 31 December 2011 from his post as member of the ECB, it is proposed to appoint Benoît COEURÉ as member of the Executive Board of the ECB in his place for a period of 8 years.