UPDATE 1-Germany nominates economist Isabel Schnabel for ECB board seat

Germany on Wednesday nominated university professor Isabel Schnabel to the European Central Bank's executive board, giving Berlin an expert voice on the bank's top decision-making body and a possible bridge-builder to get skeptical Germans on board.

The decision was expected after a source told Reuters on Tuesday that Schnabel would replace Sabine Lautenschlaeger, another German, who resigned from the ECB board last month after unsuccessfully opposing more ECB stimulus. Schnabel, a member of the German Council of Economic Experts, the country's "wise men", since 2014, is considered a well-connected economic expert and skilled communicator.

While Lautenschlaeger was a top bank supervisor, she lacked expertise in monetary policy and her critics said she was not a powerful enough voice to defend German interests against more stimulus. "I am honored to have been nominated by the German Federal Government to become Executive Director of the European Central Bank," Schnabel said on Twitter.

Schnabel argued last month that the ECB's most recent stimulus package was excessive, but said that it was within the mandate of the bank.

Also Read: Germany nominates economist Isabel Schnabel for ECB board seat - sources

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