Belgian demotion scandalises ECB insiders

CentralBankNet Special Feature: the sudden replacement of former Belgian central bank vice governor Marcia De Wachter by a political insider close to the new Belgian government has scandalised the top echelons of the Eurosystem. CentralBanknet reports on the disquiet over the appointment to a key central banking role.

To ensure that the European Central Bank remains above the political fray its board members (who include the governors of Europe's national central banks) are virtually unsackab