As the new year approaches, the National Bank of Belgium grapples with the absence of a president. Governor Pierre Wunsch's mandate is up for renewal, but political hurdles have delayed the

federal government's decision. With elections looming in six months, coalition parties are reluctant to reach consensus.

During the last cabinet meeting of the year, the De Croo government had a packed agenda, including the crucial decision on Wunsch's reappointment. While his mandate isn't contentious, its approval is entwined with other key nominations across federal administration, as well as unrelated contentious issues among coalition members.

Consequently, unresolved matters linger, awaiting further deliberation. A forthcoming digital meeting later this week aims to address remaining agenda items, but prospects for resolving the governor's issue seem bleak.

Decision-making within the expansive seven-party coalition has historically been challenging, but with election fervor escalating, consensus-building has reached near-impassable levels. The ramifications of lacking a duly appointed governor remain uncertain.

This unprecedented situation raises concerns within the National Bank, prompting considerations of legal implications concerning their role in the euro system and international obligations. Spokesperson Geert Sciot conveyed, "We are currently assessing the legal implications for the National Bank in light of our responsibilities." In the interim, Deputy Governor Steven Vanackere is expected to assume temporary responsibilities. Photo by MADe at Dutch Wikipedia.