Market Talk: Plus ça change at the ECB

Market Talk: Plus ça change at the ECB
Philip Lane, governor of the Central Bank

Has the economic crisis taught Europe to be more democratic? As top jobs become vacant at the ECB and SSM, will they be filled on merit, or will the big guns divvy them up as usual?

It will be almost two more years before Mario Draghi departs after an eight-year term as president of the European Central Bank, but already the jockeying to succeed him has started.

Last week, Mário Centeno, the new chair of the Eurogroup, the powerful body of European finance ministers, started in his role. One of the Portuguese finance minister’s first tasks was to announce that the race had begun to become the vice-president of the ECB...

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