What is the impact of enlargement on the structure of the ECB’s decision-making bodies?
The Governors of the national central banks of all EU member states are full members of the General Council of the ECB, which also comprises the ECB’s President and Vice-President. After the new Member States have adopted the euro, the Governors of the respective central banks will become members of the Governing Council of the ECB. However, the number of members with voting rights will be capped at 21: six permanent voting rights for the members of the Executive Board and 15 voting rights for the Governors of national central banks, to be exercised on the basis of a rotation system. All members entitled to vote will have one vote, in line with the one person, one vote principle. All members will have the right to attend and to speak.
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