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Isabel Schnabel is currently a professor at the University of Bonn and a member of the German Council of Economic Experts.
The recommendation to the European Council, which is composed of the heads of state and government, should be formally adopted by the Council on 8 November. The European Council will then consult the European Parliament and the governing council of the ECB. It is expected to adopt its final decision by the end of the year.
Schnabel is expected to replace Sabine Lautenschläger, who decided to step down as of 31 October 2019. The new member of the executive board will serve a non-renewable 8-year term.