ECB post decision crucial for ministers

A NUMBER of issues surrounding the appointment of a new member to the European Central Bank were threatening to delay any decision by EU Finance Ministers meeting in Brussels today.

The main issues were a replacement for Horst Koehler as head of the International Monetary Fund together with some confusion over whether the ministers would vote on the appointment using qualified majority or unanimity.

It was still unclear last night whether Portugal would propose a fourth nominee for the ECB job and ministers could use such a late application as a reason to postpone making any decision this week.