A former governor of the Bank of Spain told EURACTIV that Luis de Guindos has the right CV to become vice-president of the ECB, a post he will take up later this week. But the ex-minister’s “brutally wrong” decisions led the country to the “disaster” of the bailout, he added.
The European Parliament approved the appointment of Spain’s former minister of Economy Luis de Guindos as ECB vice-president but sent a warning signal to the member states to improve the nomination process.
The chair of the European Parliament's economic committee has written a curt letter to the president of the Eurogroup, asking for “greater cooperation” from the Council when it comes to high-level appointments. EURACTIV.fr reports.
Designated ECB vice-president, Spain’s minister of Economy Luis de Guindos, said on Tuesday (20 February) that the existing expansionary monetary stance should be for “extraordinary times”, as he described the European recovery as solid.
Widely credited with steering Spain through its worst recession in decades, its outgoing Economy Minister Luis de Guindos will hope to bring pragmatism and tenacity to the European Central Bank when he takes over as vice president in June.
Eurozone finance ministers chose Spanish Economy Minister Luis de Guindos to become the next vice-president of the European Central Bank (ECB), marking the return of Spain to top EU posts after the country lost its chair in the bank's Executive Council.
MEPs revived the race for the ECB vice-presidency this week and said they considered Ireland's central banker Philip Lane to be more convincing than the frontrunner, Spain's economic minister Luis de Guindos.
Spain’s Economy Minister Luis de Guindos and Ireland’s Central Bank Governor Philip Lane will fight for the ECB vice-presidency to be discussed by the Eurogroup later this month.
Ireland’s concerns over how the European Union should proceed with taxing large digital businesses are shared by a growing number of countries, Finance Minister Paschal Donohoe said yesterday (5 February).
Candidates for the ECB vice-presidency will put forward their names next week. For Spain, there is more at stake than meets the eye as it almost feels this is one of its last chances to regain some clout in Europe, writes Jorge Valero.