Austria has dropped its plan to propose a new member of the European Central Bank's Executive Board as it does not see a suitable spot amid the impending reshuffle of European positions, Bloomberg reports. 

Finance Minister Hartwig Loeger had said in September that he was "ready" to put forward an Austrian for an upcoming seat at the ECB's top table.

But the complex jostling likely to ensue among countries for key roles makes a successful outcome unrealistic, people familiar with the situation have said. 

The people asked not to be identified because the considerations are private. 

That shift removes one potential rival to Central Bank Governor Philip Lane, who has been frequently cited as a likely candidate for the next available vacancy. 

A meeting of euro-area finance ministers on January 21-22 will open the call for candidates to succeed chief economist Peter Praet, with a view to picking his replacement on the Executive Board on February 11.

That decision is only part of the broader horsetrading this year that will also determine the successor to ECB President Mario Draghi, a new head of the European Council, presidents for the European Parliament and the European Commission, and a new Commission. 

The European Banking Authority is also in need of a chief.