ECB board selection process is too restrictive

In a letter published this week, Prof Francesco Giavazzi and Prof Charles Wyplosz said the selection process for ECB board members is seriously inadequate. According to them, members should be chosen solely on their own merits, irrespective of the passport they carry.

This letter was first published by ft.com on 8 February 2005 and is republished here with permission of the authors, Francesco Giavazzi and Charles Wyplosz.

Every spring, one of the six members of the European Central Bank executi