Volker Wieland points out importance of economic expertise in the ECB Governing Council ("Der Spiegel")

After the nomination of Christine Lagarde as President of the European Central Bank (ECB), Prof. Volker Wieland has pointed out that it is important to fill further vacancies with economists. As half of the Governing Council will be made up by legal experts, economists with an academic background and experience in central banks should be nominated again in the future", he said in an interview with the German news magazine "Der Spiegel".

The members of the ECB Governing Council should be able to understand the analyses as perfectly as their staff or even better, he said, as monetary policy was based on academic and methodically challenging analysis.

Der Spiegel: "Wirtschaftsweiser sieht Lagarde-Berufung kritisch"
(Dow Jones)