Donohoe nominates Philip Lane for ECB executive board

Finance Minister Paschal Donohoe has nominated Central Bank governor Philip Lane for a top spot at the ECB in a year that will see key leadership posts change hands at the monetary authority for the 19-country eurozone and its 340 million people.

Minister Donohoe has put Mr Lane forward for the spot on the ECB's six-member executive board that is currently held by Belgium's Peter Praet, whose eight-year term expires on May 31.