Vol. 488 No. 1
159 Mr. Quinn asked the Minister for Finance if his attention has been drawn to the fact that the Heads of Government, represented as share-holders in the European Bank for Reconstruction and Development, have not decided upon a successor for the post of executive president, vacant since 31 January 1998; and if he will make a statement on the matter. [4715/98]
Mr Jacques de Larosiere's term of office as president of the Bank ended on 26 September 1997. For personal reasons Mr. de Larosiere decided not to take up the offer of a further term but accepted an extension of his contract until 31 January 1998 to facilitate the finding of a suitable replacement and to avoid a simultaneous replacement of both president and first vice president.
Naturally, I am concerned that the question of the presidency of this important institution should be settled at the earliest opportunity. The decision on a new president is a matter for the board of governors of the European Bank for Reconstruction and Development, who are, in the main, the Finance Ministers of the members countries.
Given the origins of the Bank and the EU majority on the board of governors it would be expected that there would be an agreed EU candidate put forward. The matter has been discussed at ECOFIN on a number of occasions and I hope it will be resolved soon.
