Editing European Central Bank (section)

====Executive Board====
[[File:Jean-Claude Trichet - World Economic Forum Annual Meeting Davos 2010.jpg|thumb|upright|[[Jean-Claude Trichet]], the second President of the European Central Bank]]
The [[Executive Board of the European Central Bank|Executive Board]] is responsible for the implementation of monetary policy (defined by the Governing Council) and the day-to-day running of the bank.<ref name="Governing Council2">{{cite web|url=http://www.ecb.int/ecb/orga/decisions/govc/html/index.en.html|title=ECB: Governing Council|date=1 January 2002|work=ECB|publisher=ecb.int|access-date=28 October 2011}}</ref> It can issue decisions to national central banks and may also exercise powers delegated to it by the Governing Council.<ref name="Governing Council2" /> Executive Board members are assigned a portfolio of responsibilities by the President of the ECB.<ref>{{Cite web|url=https://www.ecb.europa.eu/ecb/pdf/orga/distributionofresp_EB.pdf|title=Distribution of responsibilities among the Members of the Executive Board of the ECB}}</ref> The executive board normally meets every Tuesday.

It is composed of the President of the Bank (currently [[Christine Lagarde]]), the vice-president (currently [[Luis de Guindos]]) and four other members.<ref name="Governing Council2" /> They are all appointed by the [[European Council]] for non-renewable terms of eight years.<ref name="Governing Council2" /> Members of the executive board of the ECB are appointed "from among persons of recognised standing and professional experience in monetary or banking matters by common accord of the governments of the Member States at the level of Heads of State or Government, on a recommendation from the Council, after it has consulted the European Parliament and the Governing Council of the ECB".<ref>Article 11.2 of the ESCB Statute</ref>

[[José Manuel González-Páramo]], a Spanish member of the executive board since June 2004, was due to leave the board in early June 2012, but no replacement had been named as of late May.<ref name=MW01>Marsh, David, [http://www.marketwatch.com/story/cameron-irritates-as-euros-high-noon-approaches-2012-05-28 "Cameron irritates as euro’s High Noon approaches"], ''MarketWatch'', 28 May 2012. Retrieved 29 May 2012.</ref> The Spanish had nominated Barcelona-born Antonio Sáinz de Vicuña – an ECB veteran who heads its legal department – as González-Páramo's replacement as early as January 2012, but alternatives from Luxembourg, Finland, and Slovenia were put forward and no decision made by May.<ref>{{cite web |url=http://blogs.ft.com/money-supply/tag/jose-manuel-gonzalez-paramo/#axzz1wP9yAdBr |title=Tag: José Manuel González-Páramo |newspaper=[[Financial Times]] Money Supply blog entries |date=23 January 2012 |access-date=14 September 2014}}</ref> After a long political battle and delays due to the European Parliament's protest over the lack of gender balance at the ECB,<ref>{{cite news |url=https://www.reuters.com/article/us-eu-parliament-mersch-idUSBRE89O0KA20121025|title=EU parliament vetoes Mersch, wants woman for ECB |last=Davenport |first=Claire |work=U.S. |access-date=3 October 2018 |language=en-US}}</ref> Luxembourg's [[Yves Mersch]] was appointed as González-Páramo's replacement.<ref>{{cite web |url=https://www.bloomberg.com/news/2012-11-22/mersch-named-to-ecb-post-after-longest-euro-appointment-battle.html |title=Mersch Named to ECB After Longest Euro Appointment Battle |date=23 November 2012 |work=Bloomberg |access-date=14 September 2014}}</ref>

In December 2020, [[Frank Elderson]] succeeded to [[Yves Mersch]] at the ECB's board.<ref>{{Cite web|title=Frank Elderson officially appointed member of executive boar...|url=https://agenceurope.eu/en/bulletin/article/12620/7|access-date=2021-03-07|website=agenceurope.eu}}</ref><ref>{{Cite web|title=Benoeming Nederlander Frank Elderson in directie ECB stap dichterbij|url=https://nos.nl/l/2357869|access-date=2020-11-25|website=nos.nl|date=24 November 2020 |language=nl}}</ref>