Sramko Central banker of Slovakia

I am a major fan of Ivan Sramko (photo on the right -Robert Fico Slovak PM is on the left-). He is the central bank governor of Slovakia and exactly the right kind of mature and serious banker with a distinctly old-fashioned banking pedigree that oozes a sustainability and soberness largely missing in the western and particularly Angloamerican institutions and boardrooms.

Sramko is the architect of the euro adoption plan and took very effective measures to filter out speculation in the Slovak banking market. So much so that when neighbouring countries became overly vulnerable on currency volatility and speculation, Bratislava was and is an island of tranquility during the crisis.

I believe it is people like this that form the mass of the best prime ministers Slovakia will never have, or maybe the political class in Slovakia will come to recognise his contributions... who knows... For now he should be a shoo-in for another term at the ECB (where he is widely liked) and at the Slovak National Bank.

5 year term expired (Reuters)

Slovakia's current central bank governor Ivan Sramko, who is also a European Central Bank governing board member, is among the government's top candidates to be the bank's chief in the upcoming period, daily Sme reported on Saturday.

The governor of the National Bank of Slovakia (NBS) is formally appointed by the President for a five-year term on behalf of the government, whose proposal also needs to be approved by the parliament. The new term will start at the beginning of January.

A parliamentary committee proposed a legal change on Thursday that would allow current central bank chief Sramko serve another term. Under current legislation, Sramko would have to stand down by the end of December when his term runs out .

A report on Sme's website cited sources close to the Prime Minister Robert Fico as saying Sramko, central bank Vice-Governor Viliam Ostrozlik and bank board member Jozef Makuch were the top candidates:

Ivan Sramko's background

Mr Ivan Sramko was born on 3 September 1957 in Bratislava.

In 1980 he graduated from the University of Economics in Bratislava, Faculty of Management. Between 1981 and 1990 he worked as Head of financial units in several corporations.

From 1990 to 1991 Mr Sramko was Deputy Director of VUB - ING, a.s. (advisory banking company).

In 1991 - 1992 he was appointed Head of the Task Force of the VUB Bank establishing the joint venture of VUB - Credit Lyonnais.

Between 1992 and 1998 he held the position of General Manager of Istrobanka, a.s. (subsidiary of Bank für Arbeit und Wirtschaft AG, Vienna, the then-subsidiary of Slovenska poistovna, a.s., Bratislava), and was Deputy Chairman and later Chairman of its Board of Directors.

From 1998 Mr Sramko was a member of the management of Tatra banka, a.s. (subsidiary of Raiffeisen International Bank-Holding AG, Vienna, the then-subsidiary of Raiffeisen Bank, Vienna), and from 2000 to 2002 a member of its Board of Directors.

From 11 January 2002 to 31 December 2004 Mr Sramko served as a Deputy Governor of the National Bank of Slovakia. He was appointed Governor of the NBS effective from 1 January 2005.

Mr Sramko is a Member of the Governing Council of the European Central Bank, a Governor in the International Monetary Fund and an Alternate Governor in the European Bank for Reconstruction and Development.

Since 1998 he has been a member of the Board of the Slovak-Austrian Chamber of Commerce and since 2003 a Chairman of the Managing Board of the University of Economics in Bratislava.

He is fluent in English and German.

He is married and has three children.

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