Lithuania's Ministry of Finance nominates Rimantas Šadžius as candidate for European Central Bank Vice-President

Lithuania’s Ministry of Finance has won approval from the Government’s European Union Commission to nominate Rimantas Šadžius as Lithuania’s candidate for Vice-President and a member of the European Central Bank (ECB) Executive Board. The ministry highlighted Šadžius’s experience as a three-time former Finance Minister, including during Lithuania’s accession to the euro area in 2015, and his work from 2016 to 2022 as a Member of the European Court of Auditors covering EU banking and financial services, capital markets and economic governance. It also pointed to the lack to date of an Executive Board representative from EU Member States that joined after 2004 and argued that geographical balance supports the legitimacy and effectiveness of EU institutions. Euro area member states can nominate candidates for the ECB Vice-President role until 9 January 2026. The Vice-President and other Executive Board members are appointed by the European Council by qualified majority for an eight-year term, following consideration by the Eurogroup and the Economic and Financial Affairs Council (ECOFIN) and consultation with the European Parliament and the ECB.