Belgian confirmed in ECB board seat

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Belgium's Peter Praet was confirmed Tuesday by eurozone finance ministers as the newest member of the European Central Bank's policy making executive board.

An EU official said ministers cleared Praet's appointment which comes as jockeying picks up to succeed Frenchman Jean-Claude Trichet in October as the head of the world's most powerful central bank after the US Federal Reserve.

German front-runner Axel Weber dramatically threw in the towel for "personal reasons" last week.

Praet currently serves as a director at the Belgian central bank, with special responsibility for financial system stability.

© 2011 AFP

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