French economists protest ex-banker's nomination to central bank

From reuters.com

A group of more than 140 economists protested on Tuesday against the appointment of an former BNP Paribas banker to head the French central bank, saying it could raise conflict of interest issues. The economists, mostly academics, wrote in Le Monde newspaper that Francois Villeroy de Galhau was an excellent expert on the banking sector, but that his background risked jeopardising his independence at the central bank. "It's a total illusion to say that one can serve the banking industry and several months later assume its regulation with impartiality and total independence," they wrote. Villeroy de Galhau, 56, was ... (full story)