§ Mr. Llew SmithTo ask the Chancellor of the Exchequer what powers the Council of Ministers has to remove a member of the European central bank before the expiry of the eight-year term of appointed office. [24538]
§ Mrs. Angela KnightArticle 11.2 of the Statute of the European System of Central Banks states that the term of office of members of the Executive Board of the European Central Bank "shall be eight years and shall not be renewable".
The Council of Ministers has no powers to remove a member of the executive board once he or she is appointed, although it plays a role in the appointment of members. In accordance with article 11.4, "if a member of the Executive Board no longer fulfils the conditions required for the performance of his duties or if he has been guilty of serious misconduct, the Court of Justice may, on application by the Governing Council or the Executive Board, compulsorily retire him".