BREAKING NEWS

Germany nominates economist Isabel Schnabel for ECB board seat - sources

Germany nominates economist Isabel Schnabel for ECB board seat - sources
FILE PHOTO: The headquarters of the European Central Bank (ECB) is illuminated with a giant euro sign in Frankfurt, Germany, March 12, 2016. REUTERS/Kai Pfaffenbach/File Photo -
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Kai Pfaffenbach(Reuters)
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BERLIN (Reuters) – The German cabinet on Wednesday nominated university professor Isabel Schnabel to the European Central Bank’s executive board, two government sources told Reuters, giving Germany an expert voice on the bank’s top decision-making body.

The decision was expected after a source said on Tuesday Schnabel would replace Sabine Lautenschlaeger, another German, who resigned from the ECB board last month after having unsuccessfully opposed more ECB stimulus.

(Reporting by Andreas Rinke; writing by Thomas Seythal; editing by Tassilo Hummel)

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