EU central bankers to pick stability board head

The head of the European Central Bank (ECB) will no longer automatically become the head of the proposed European Systemic Risk Board following objections from the United Kingdom, and several central and eastern European countries.

The European Commission proposed the setting up of the European Systemic Risk Board last month after the De Larosiere report advocated the creation of a pan-European Union systemic-risk monitor. Both the De Larosiere report and the European Commission recommended that

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