But there will have been considerable relief in Frankfurt that the Moulin was approved without turbulence. The fact that the appointment didn\u2019t descend into a prolonged political battle removes one headache from what one policymaker \u2014 granted anonymity to speak candidly about Moulin\u2019s approval \u2014 described as an \u201calready super-messy world.\u201d\u00a0\u00a0<\/p>\n
\u201cI very much look forward to working with the new French governor on the Governing Council,\u201d\u00a0one of Moulin\u2019s future peers said.\u00a0\u00a0<\/p>\n
Ahead of the vote, another governor had told POLITICO that the nomination had been\u00a0generally well\u00a0received among policymakers, particularly after\u00a0Villeroy\u00a0threw his full support behind Moulin.\u00a0<\/p>\n
But\u00a0French\u00a0lawmakers eager to grill Moulin over how he would vote on interest rate decisions as a member of the ECB\u2019s Governing Council were in for a disappointment.\u00a0\u00a0He declined to answer questions about monetary policy, including\u00a0whether he supported\u00a0lowering\u00a0rates as the conflict\u00a0in the Middle East squeezes the European economy.\u00a0\u00a0<\/p>\n
Moulin did, however, address technical questions on matters from the digital euro \u2014 which he supports \u2014 to the Basel 3 accords on bank capital and liquidity, which he backed implementing in a \u201cpragmatic\u201d way.<\/p>\n
Lawmakers\u00a0also\u00a0repeatedly questioned\u00a0Moulin\u00a0on securitization, the practice\u00a0of\u00a0combining,\u00a0repackaging\u00a0and transforming illiquid assets such as loans into\u00a0freely-tradable securities. Former ECB chief Mario Draghi called for\u00a0greater use of securitization in his\u00a0landmark 2024 report on European competitiveness.\u00a0\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"But there will have been considerable relief in Frankfurt that the Moulin was approved without turbulence. The fact…\n","protected":false},"author":2,"featured_media":79078,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[125],"tags":[466,5973,2036,448,2038,12,1065,242,31889,245,4660,1857,471,247],"class_list":["post-79077","post","type-post","status-publish","format-standard","has-post-thumbnail","category-emmanuel-macron","tag-banks","tag-bruno-le-maire","tag-central-banks","tag-christine-lagarde","tag-currency","tag-donald-trump","tag-elections","tag-emmanuel-macron","tag-emmanuel-moulin","tag-france","tag-francois-villeroy-de-galhau","tag-history","tag-interest-rates","tag-macron"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@people\/116607803833662409","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/posts\/79077","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/comments?post=79077"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/posts\/79077\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/media\/79078"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/media?parent=79077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/categories?post=79077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/tags?post=79077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}