European Parliament rejects ECB vote rotation idea

ECB and enlargement - 'No' to proposed changes. The Economic and Monetary Affairs Committee of the European Parliament on Monday March 10 rejected the ECB's proposal to reform the current voting system of its Governing Council.

Source: European Parliament

The Economic and Monetary Affairs Committee rejected a proposal coming from the ECB to replace the current voting system on the Board with a "rotation" system allocating each National Central Bank governor to one of three groups, reflecting t