Euro zone finance ministers begin process to replace Schnabel
Euro zone finance ministers started a process to replace ECB board member Isabel Schnabel, who is set to leave on Jan. 3 to take up a post at the IMF.
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Explainer: political chess behind ECB's next leadership shake-up
Reuters explains the likely succession process as the euro zone prepares to choose a new ECB president next year and fill up to two-thirds of the six-member executive board. It says Isabel Schnabel is leaving for the IMF, Philip Lane's term ends on May 31 and Christine Lagarde's term runs until October 31, 2027.