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

The Governing Council of the European Central Bank has no objection to the Council's recommendation on the appointment of Mr Lorenzo Bini Smaghi as member of the Executive Board of the ECB for a term of office of eight years with effect from 1 June 2005.  The Governing Council is of the opinion that he is a person of recognized standing and professional experience in monetary or banking matters as required by Article 112(2)(b) of the Treaty establishing the European Community.