Germany Nominates Isabel Schnabel To ECB Executive Board

Germany has nominated academic Isabel Schnabel to the European Central Bank’s executive board.

German Finance Minister Olaf Scholz confirmed the nomination on Wednesday, Reuters reported.

Schnabel, who is a professor of financial economics at the University of Bonn, of welcomed here nomination in a tweet on the microblogging site Twitter.

She is also a member of the German Council of Economic Experts, dubbed Germany’s “wise men”.

If approved, Schnabel will replace another German, Sabine Lautenschalger, who resigned from the ECB board in September, apparently due to her opposition to the loose monetary policy.

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