Yves Mersch
Encyclopedia
Yves Mersch is a Luxembourg
ian jurist and lawyer who has served as Governor of the Central Bank of Luxembourg since the bank's formation in 1998. In that capacity, he also sits as a member on the European Central Bank
's Governing Council and General Council. He has been regarded as relatively hawkish on interest rate
policy.
On 19 March 2008, Mersch admonished banks for inappropriate risk management
, but perhaps more unusually struck a doveish tone with regard to the future path of the European economy.
In late June, 2011, speaking while at the annual general meeting of the Bank for International Settlements
in Basel
, Mersch said, "it is chaos," when asked what would happen if Greece were to default on its debts. He was described as "a key member" of the ECB Governing Council in the report.
Mersch studied international law in Paris and is member of the Luxembourgish bar. He is married and has two children.
Luxembourg
Luxembourg , officially the Grand Duchy of Luxembourg , is a landlocked country in western Europe, bordered by Belgium, France, and Germany. It has two principal regions: the Oesling in the North as part of the Ardennes massif, and the Gutland in the south...
ian jurist and lawyer who has served as Governor of the Central Bank of Luxembourg since the bank's formation in 1998. In that capacity, he also sits as a member on the European Central Bank
European Central Bank
The European Central Bank is the institution of the European Union that administers the monetary policy of the 17 EU Eurozone member states. It is thus one of the world's most important central banks. The bank was established by the Treaty of Amsterdam in 1998, and is headquartered in Frankfurt,...
's Governing Council and General Council. He has been regarded as relatively hawkish on interest rate
Interest rate
An interest rate is the rate at which interest is paid by a borrower for the use of money that they borrow from a lender. For example, a small company borrows capital from a bank to buy new assets for their business, and in return the lender receives interest at a predetermined interest rate for...
policy.
On 19 March 2008, Mersch admonished banks for inappropriate risk management
Risk management
Risk management is the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities...
, but perhaps more unusually struck a doveish tone with regard to the future path of the European economy.
In late June, 2011, speaking while at the annual general meeting of the Bank for International Settlements
Bank for International Settlements
The Bank for International Settlements is an intergovernmental organization of central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks." It is not accountable to any national government...
in Basel
Basel
Basel or Basle In the national languages of Switzerland the city is also known as Bâle , Basilea and Basilea is Switzerland's third most populous city with about 166,000 inhabitants. Located where the Swiss, French and German borders meet, Basel also has suburbs in France and Germany...
, Mersch said, "it is chaos," when asked what would happen if Greece were to default on its debts. He was described as "a key member" of the ECB Governing Council in the report.
Mersch studied international law in Paris and is member of the Luxembourgish bar. He is married and has two children.