Donohoe nominates Lane for ECB post

The Government is to nominate Central Bank governor Philip Lane to become Ireland’s first ever vice-president of the European Central Bank.

The Cabinet yesterday approved a proposal tabled by Finance Minister Paschal Donohoe that Mr Lane be the Government’s nominee to the ECB’s governing council, where there will be at least one vacancy this year with a number of other vacancies due to follow next year.

Mr Donohoe said Mr Lane is “eminently qualified” for the role.