ECB clears Isabel Schnabel's appointment to board

FRANKFURT (Reuters) – The European Central Bank’s Governing Council does not object to the appointment of Germany’s Isabel Schnabel to the bank’s Executive Board from Jan. 1, the ECB said in a statement on Thursday.

Schnabel, the only candidate for the post, replaces Sabine Lautenschlaeger, who quit in October after unsuccessfully opposing a new round of stimulus.

Although Schnabel must still await approval from the European Parliament and euro zone leaders, these are largely considered formalities and the appointment is seen as a done deal as governments have already agreed on her nomination.

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