ECB vote reform OK'd at EU summit

EU leaders agreed the proposal from the European Central Bank to reform the voting arrangements of its Governing Council, a spokesman for EU presidency holder Greece said on Friday.

He confirmed that the meeting of the European Council had agreed the blueprint proposed by the ECB earlier in the year. The plan proposed a system of rotating votes based on three groups weighted by GDP and population.

There was no discussion on the replacement for outgoing ECB board member Sirkka Hamalainen, who wi