FRANKFURT (Reuters) -Germany's Claudia Buch was picked on Wednesday to head the European Central Bank's supervisory arm, overseeing a 26 trillion euro ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSFRANKFURT -Germany's Claudia Buch was picked on Wednesday to head the European Central Bank's supervisory arm, overseeing a 26 trillion euro banking sector that must now adjust to a new era of high inflation and rising interest rates.
This relative inexperience is why some members of the European Parliament argued after a closed-door hearing that Delgado was a more appropriate candidate. "Given that the European Parliament has to confirm this choice, it is somewhat surprising that the ECB opted not to follow the ECON Committee’s recommendation. This makes the process more complicated than it needs to be.”
Profitability is now at respectable levels after more than a decade of weak earnings, and the $1 trillion pile of soured debt that sat on lenders' books after the euro zone debt crisis is mostly gone.
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