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The appointment of Mr Lane will enter into effect on 1 June 2019. He will replace Peter Praet who has held this position since 1 June 2011 and will leave office on 31 May 2019.
The recommendation to the European Council was adopted by the Economic and Financial Affairs Council on 12 February 2019, a day after the Eurogroup gave its support to the candidacy.
The European Parliament delivered its recommendation on the appointment on 14 March 2019 and the Governing Council of the European Central Bank on 6 March 2019.