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Lagarde: Weighted GC Voting Not On The Cards

ECB

Q: Question on Jens Weidmann stepping down... [Also] is it fair that large member states have the same voting power on the GC as smaller states?

  • A: We have had an excellent working relationship with Governor Weidmann. There is a point in time when turning a page is not a bad idea. He had personal reasons for stepping down.
  • On the issue of weighted voting, it is just not on the cards. It is not for the ECB to take a view on that. Each member state has a voice, is listened to, is respected and some members play a more active and critical role in both the determination and implementation of monetary policy.

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