The European Parliament yesterday gave a resounding endorsement of all six nominees for the board of the European Central Bank (ECB).

Reservations in the Socialist Group about the credentials of the Spanish nominee, Dr Eugenio Domingo Solans, were put aside by the group which joined in a collective desire to see the bank off on an uncontroversial footing.

The vote on Mr Wim Duisenberg's nomination as ECB president was carried by 439 votes to 40, with 59 abstentions. All the Irish MEPs backed the motion with the exception of the two Greens who were opposed. Speaking for the Presidency, the British Chancellor, Mr Gordon Brown, praised the role of the Parliament in the appointment process and argued that the accountability of the bank to MEPs was important in establishing its credibility. He endorsed the view that the bank's board members should report to the Parliament's monetary committee on a quarterly basis.

He insisted that Mr Duisenberg was being appointed for eight years and that "Mr Duisenberg will make his own decision about his retirement".

Speaking for the Socialist group, Mr Alan Donnelly emphasised the need for the bank to support growth and employment once it has met its primary objective of monetary stability.

A full-time executive board of six will run the bank on a day-today basis while reporting monthly to a council consisting of the board and the governors of national central banks of euro-participating countries.

The members of the executive are: president - Mr Wim Duisenberg (Neth); vice-president - Mr Christian Noyer (Fr); Ms Sirkka Hamalainen (Fin); Dr Otmar Issing (Ger); Dr Tommaso Padoa-Schiopp (It); Mr Eugenio Domingo Solans (Sp).