Today, the European Central Bank (ECB) finance ministers will debate on who will become the new vice president of the bank replacing Lucas Papademos, as officials try to work together to restore economic growth and ease the tightening credit systems.

The members that are for elections are ECB Banking Supervision Committee Chairman Peter Praet, Luxembourg central bank chief Yves Mersch and Portuguese central bank chief Vitor Constancio. The finance ministers are going to meet in Brussels at 4:00 pm GMT to decide on the upcoming finance minster.