The ECB has chosen the president of the European Banking Authority to succeed the Frenchwoman Danièle Nouy. This proposal has yet to be presented to the European institutions.
THE ECONOMIC WORLD
from Marie Charrel e
While women are notoriously under-represented in key positions of the European Central Bank (ECB), the Frankfurt Institute has appointed a man, the Italian Andrea Enria, to take over the reins of the European banking "gendarme". On Wednesday 7 November, the ECB had to choose who will succeed the French Danièle Nouy, starting from 1st January 2019, to monitor the 118 largest European banks, which hold more than 80% of euro area banking activities.
After the 2008 crisis, Europe has created a banking union with, from 2014, a single supervisor integrated into the ECB. Its mission: to inspect the main financial institutions of the euro area, to grant or withdraw their banking license and to require them to strengthen their capital as much as necessary. In short, being intrusive, while before the crisis, the often lenient proximity relationship maintained between banks and their national supervisors led to disaster.
Mmyself Nouy, a woman of character, was the first to hold the helm of this new Single Supervisory Mechanism (SSM). To replace him, the Governing Council of the ECB had two candidates: Irishman Sharon Donnery, 46, deputy governor of the Central Bank of Ireland and head of an ECB task force on loans. Doubts accumulated in bank balance sheets; and Andrea Enria, 57, head of the European Banking Authority, which is responsible for issuing rules for European Union banks (EU). The French Robert Ophèle, 62, president of the Autorité des marchés financiers, was out of competition at the end of October after his hearing before the European Parliament.
Set of musical chairs
For some observers, the choice of Andrea Enria would not be foreign to the health of Italian banks, which, bending under "non-performing" loans (that is, not reimbursed), …