Monday 5 November 2012

ECB board nomination delayed by spain

BRUSSELS (AP) -- The European Union's member states have failed to name Luxembourg' top central banker to the executive board of the European Central Bank after Spain raised objections to his appointment. The member states were expected to approve Yves Mersch joining the six-person board over the objections of the European Parliament on Monday, but officials said Spain unexpectedly voiced concerns. The issue will now be left the EU leaders at their Nov. 22-23 summit, or a later one in December. The EU Parliament voted against Mersch's appointment last month to protest the lack of women among the ECB's top echelons