European Central Bank

HC Deb 17 March 1999 vol 327 c658W

Mr. Maclean

To ask the Chancellor of the Exchequer what is the salary of the President of the European Central Bank. [76285]

Ms Hewitt

In accordance with Article 11.3 of Protocol No. 3 to the EC Treaty (Statute of the ESCB and ECB), the terms and conditions of employment of the members of the Executive Board, in particular their salaries, pensions and other social security benefits are the subject of contracts with the ECB and are fixed by the Governing Council on a proposal from a Committee comprising three members appointed by the Governing Council and three members appointed by the Council of Ministers.