Austria names new governor

Ewald Nowotny, a former chief executive of BAWAG, an Austrian Bank, is to replace Klaus Liebscher, at the helm of the country's central bank.

Alfred Gusenbauer, Austria's chancellor, announced the appointment on Wednesday. Nowotny told Reuters, a media agency, that it was "a great honour and great challenge" to follow Liebscher.

Liebscher is retiring at the end of August after a decade-long stint as head of the central bank. He joined in 1980 as a member of the executive board and has also ser

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