European Central Bank ECB: appointment of Lorenzo Bini Smaghi as member of the Executive Board, 1st June 2005

PURPOSE : to nominate a member of the Executive Board of the European Central Bank.

PROPOSED ACT : Council Recommendation.

CONTENT : the term of office of Mr Tommaso PADOA-SCHIOPPA expires on 31 May 2005. The Council recommends that Mr Lorenzo BINI SMAGHI be appointed for a term of office of eight years with effect from 1 June 2005.