ECB reshuffles executive responsibilities as Constâncio takes over Papademos’ role

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The executive board of the European Central Bank (ECB) announced the new governing responsibilities among its members on Wednesday. The move came as Vítor Constâncio, the new vice-president of the ECB, joined the central bank.

The division of responsibilities takes effect immediately.

Responsibility over financial stability and supervision was transferred from Lucas Papademos, the former ECB vice president, to Constâncio. The new vice president also takes over responsibilities in administration

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