Raad beveelt Yves Mersch aan voor positie in bestuursraad Europese Centrale Bank (en)

The Council today recommended the nomination of Yves Mersch to the executive board of the European Central Bank for a term of eight years

If appointed, he will succeed José Manuel Gonzalez-Paramo, who completed his term of office on 31 May

The Council's recommendation will be submitted to the European Council for a decision, after consulting the European Parliament and the ECB's governing council

The executive board of the ECB is responsible for implementation of monetary policy for the euro area, as laid down by the governing council. It is composed of the president, a vice-president and four other members, all nominated for non-renewable terms of eight years. The governing council is composed of the six members of the executive board and the governors of the national central banks of the member states of the euro area

Annex: Curriculum Vitae of Yves Mersch

The recommendation was adopted at a meeting of the Economic and Financial Affairs Council

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PRESS

BANQUE CTRALE DU LUXEMBOURG

EUROSYSTEM

YVES MERSCH

• 1. 

  BIOGRAPHY

The European engagement of Yves Mersch is anchored in a career devoted to the public service. He contributed to the shaping and then the implementation of Economic and Monetary Union (EMU). Mr. Mersch was a member of the Monetary Committee of the European Communities. He was also the Personal Representative of the Minister of Finance from the start of the negotiation of the Maastricht Treaty under the Luxembourg Presidency, in charge of the drafting of the chapter on EMU. Since the creation of the European Central Bank (ECB), Mr. Mersch has been a member of its Governing Council and of its General Council

Mr. Mersch was appointed as the first Governor of the Banque centrale du Luxembourg (BCL). As such, he was responsible for the establishment of the institution in 1998 and has shaped it to contribute to the missions of the Eurosystem. He has ensured the development of its missions at the national level, ensuring also its supervisory role with respect to the financial sector and its contribution to financial stability

Mr. Mersch is well acquainted with the European decision-making process and has a long experience of meetings at the European level. He has attended ECOFIN Councils and EU Summits since the 80's. As Director of the Treasury, he has represented the Luxembourg Government in various European fora, such as the European Investment Bank, the European Bank for Reconstruction and Development, and the Development Bank of the Council of Europe

As a central banker, he contributes to cooperation with multilateral organisations and with central banks of other European countries and emerging countries. He actively contributes to the meetings of the Group of French-speaking Central Bank Governors. He also regularly contributes to academic publications. Mr. Mersch has an extensive international experience, having worked at the International Monetary Fund and at the United Nations Organisation at the beginning of his career, and having represented Luxembourg in international fora as Director of the Treasury of Luxembourg, such as the International Monetary Fund and the World Bank

Mr. Mersch's expertise in financial stability issues results, also, from his regulatory activities at the Ministry of Finance, as well as from his experience as Government Commissioner for oversight of the Luxembourg Stock Exchange and as a member of the Council of the Luxembourg prudential supervisory authority

Besides this experience in monetary and financial stability issues, Mr. Mersch has served on the boards of commercial banks, as well as companies with a global reach active in different sectors of the real economy (steel, satellite)

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BANQUE CTRALE DU LUXEMBOURG

EUROSYSTEM

• 2. 

  Curriculum Vitae

CURRICULUM VITAE

Yves MERSCH

Governor

of the Banque centrale du Luxembourg (Central Bank of Luxembourg) since 1^st June 1998

Born 1st October 1949 in Luxembourg Married, 2 children

Education

1973 Master of law

University Paris 1 Panthéon Sorbonne

1974 Postgraduate degree in international public law Master of political science

University Paris 1 Panthéon Sorbonne

1975 Postgraduate degree in political science University Paris 1 Panthéon Sorbonne

Professional career

1974 Admitted to the Luxembourg Bar

Teaching Assistant in public law University Paris-Sud 11

1975 Assistant, Ministry of Finance

1976 - 1978 Assistant, International Monetary Fund (IMF), Washington D.C 1978 - 1979 Attaché, Ministry of Finance

1980- 1981 Financial Counsellor, Permanent Representation of

Luxembourg to the United Nations Organisation, New York

1981 Adviser, international financial and monetary relations

Ministry of Finance

BANQUE CTRALE DU LUXEMBOURG

EUROSYSTEM

1983 -1999 Member of the Council of the Luxembourg Monetary Institute

(Prudential Supervisory Authority)

1985- 1989 Government Commissioner for the Luxembourg Stock

Exchange (Securities Market Authority)

1989 -1998 Director of the Treasury

Personal Representative of the Minister of Finance during the negotiation of the Maastricht Treaty

Since 1^st June 1998 Governor of the Banque centrale du Luxembourg (third term started 11^th June 2010)

Member of the Governing Council and General Council of the European Central Bank

Since 2000 President of the non-profit association "The Bridge Forum

Dialogue a.s.b.l", founded in 2000 with the participation of the European Union institutions and bodies established in Luxembourg

Since 2003 Member of the academic council of the "Institut Universitaire

International Luxembourg" (IUIL)

Since 2006 Member of the board of the foundation "Luxembourg School of

Finance" (LSF)

Previous posts

Has represented Luxembourg in the following bodies:

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  Monetary Committee of the European Communities (alternate member from 1982 to 1985, full member from 1989 to 1998)
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  International Monetary Fund (IMF) (alternate Governor)
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  World Bank (alternate Governor)
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  European Bank for Reconstruction and Development (EBRD) (alternate Governor)
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  European Investment Bank (EIB) (Board member)
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  Development Bank of the Council of Europe (Board member)
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  International Fund for Agricultural Development (IFAD) (Governor)

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BANQUE CTRALE DU LUXEMBOURG

EUROS/STEM

Administrator representing the State on the boards of the following bodies:

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  ARBED S.A (steel)
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  Société européenne de satellites (SES) (satellite services)
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  Post and Telecommunications Company (Entreprise des Postes et Télécommunications)
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  National Housing Company (Société Nationale des Habitations a Bon Marché)
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  Banque et Caisse d'Epargne de I'Etat

President of the Export Credit Insurance Office (Office du Ducroire) President of the Fund for the fight against the trade of narcotics Vice-President of the Bank "Société nationale de crédit et d'investissement"

Further information

Yves Mersch is Officer of the National Order of the Legion of Honour (France) and Grand Officer of the Order of the Cross of Recognition (Latvia)