PRESS RELEASE

5 May 1998 - Statement by the Council of the European Monetary Institute on the recommendation from the Council of the European Union for the appointment of the members of the Executive Board of the European Central Bank

At its meeting today, the Council of the EMI considered the Recommendation from the Council of the European Union for the appointment of the President, the Vice-President and the other members of the Executive Board of the ECB.

The Council of the EMI noted that the proposed candidates are persons of recognised standing and professional experience in monetary or banking matters. It had no objection to the appointment to the Executive Board of the ECB of all the nominees.