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ECB meeting room, Frankfurt (Photo: European Central Bank)

Ministers choose Portuguese ECB deputy

EU finance ministers have thrown their support behind Portugal's Vitor Constancio to take over the key job of deputy head of the European Central Bank.

The decision to replace current vice-president, Greece's Lucas Papademos, set to step down this summer, with another southern European, is seen as increasing the chances of German Bundesbank chief Axel Weber to take the top stop next year.

Current ECB president Jean-Claude Trichet's term expires in October 2011, with senior EU pos...

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ECB meeting room, Frankfurt (Photo: European Central Bank)

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