Claudia Maria Buch

In February 2012, at the suggestion of the Federal Minister of Economics and Technology Philipp Rösler, the German government decided to make Buch a member of the German Council of Economic Experts (Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung) from 1 March 2012.[3] She succeeded Beatrice Weder di Mauro and is the second female member of the council since its foundation in 1963.[9]

In a 2012 interview with Frankfurter Allgemeine Zeitung, Buch held that “Eurobonds in the framework of a political union, with joint control and a surrendering of fiscal powers, would be theoretically an alternative in the long term.” While calling such as solution “politically unrealistic,” she promoted the debt-redemption fund as an alternative to European Central Bank monetization of sovereign debt. The fund, which would mutualize euro-area debt exceeding 60 percent of member states’ economic output in return for strict conditions, would offer a temporary solution until the bloc stabilize its finances, Buch told the newspaper.[10]

Later that year, Buch warned: "If the ECB were to buy even more government bonds, it would assume a redistribution function. The ECB lacks both the mandate and the democratic authority to do so."[11]

In 2013, Buch and Elke König, who headed the Federal Financial Supervisory Authority (BaFin) at the time, were cited by German media as contenders for a post on the Executive Board of the European Central Bank that eventually went to Sabine Lautenschläger.[12]

Between July 2013 and March 2014, Buch served as member of the European Commission’s expert group on debt redemption fund and eurobills,[8] led by Gertrude Tumpel-Gugerell. The expert group was set up with a mandate to deepen the analysis on the possible merits, risks, requirements and obstacles of partial substitution of national issuance of debt through joint issuance in the form of a redemption fund and eurobills.[13]

In February 2014, the German government nominated Claudia Buch as vice president of the Bundesbank, succeeding Sabine Lautenschläger as the only woman on the central bank’s board;[12] Isabel Schnabel was named Buch’s successor on the Council of Economic Experts shortly after. In her capacity as vice president, Bucher oversees the bank’s activities on Financial Stability, Internal Audit and Statistics. She also accompanies President Jens Weidmann to the sessions of the Governing Council of the European Central Bank.

At the time, German news media like Der Spiegel considered Buch’s nomination a victory for Finance Minister Wolfgang Schäuble and Chancellor Angela Merkel’s Christian Democratic-led bloc in a power struggle with their Social Democratic coalition partners; Vice Chancellor Sigmar Gabriel, led the SPD at the time, reportedly wanted to give the job to Bundesbank board member Joachim Nagel.[12][14]

Since May 2014, Buch has been a member of the Financial Stability Commission at the Federal Ministry of Finance, representing the Bundesbank.

In March 2023, Buch was appointed to the European Central Bank's Supervisory Board, as the Bundesbank's representative.[15] In July 2023, the ECB shortlisted Buch and Margarita Delgado as candidates to succeed Andrea Enria as the board's chair.[16][17][18] In September, the ECB finally chose to appoint Buch as SSM chair, the European parliament approved this nomination on 3d October [19] and on October 19, the European Council appointed Claudia Buch as chair of the SSM, with her five-years term starting from 1st January 2024[20].

• Bank for International Settlements (BIS), Ex-Officio Chairwoman of the Irving Fisher Committee on Central Bank Statistics (since 2016), Ex-Officio Member of the Committee on the Global Financial System (since 2014)
• Financial Stability Board (FSB), Ex-Officio Member of the Standing Committee on Assessment of Vulnerabilities (since 2014)
• Economic and Financial Committee, Ex-Officio Member (since 2014)
• Federal Financial Supervisory Authority (BaFin), Ex-Officio Member of the Financial Stability Commission (since 2014)

• Center for Economic and Policy Research (CEPR), Distinguished Fellow (since 2019)[21]
• Goethe University Frankfurt, Member of the University Council (since 2015)
• Halle Institute for Economic Research (IWH), Member of the Scientific Advisory Board (since 2015)
• Rheinisch-Westfälisches Institut für Wirtschaftsforschung (RWI), Member of the Scientific Advisory Board (2011-2013), Member of the Supervisory Board (since 2015)
• International Banking Research Network (IBRN), Co-Director (since 2012)
• Verein für Socialpolitik, Member of the Executive Board (since 2011)
• Max Planck Institute for Tax Law and Public Finance, Member of the Board of Trustees (2014–2016)
• Association of German Economic Research Institutes (ARGE), Deputy Chair of the Board (2013–2014)
• European Systemic Risk Board (ESRB), Member of the Advisory Scientific Committee (2011–2014)
• German Research Foundation (DFG), Member of the Senate (2008–2014)
• Kiel Institute for the World Economy (IfW), Member of the Scientific Advisory Board (2008–2013)
• German National Library of Economics (ZBW), Member of the Scientific Advisory Board (2004–2007)

• German Economic Review, Member of the Editorial Board (since 2012)
• Comparative Economic Studies, Member of the Editorial Board (2013-2014)
• Applied Economics Quarterly, Member of the Editorial Board
• Empirica, Member of the Editorial Board