The Eurogroup today gave its unanimous support to the candidacy of the Spaniard Luis de Guindos for the position of Vice President of the European Central Bank (ECB).
De guindos is currently Ministry of Economy, Industry and Competitiveness of the Government of Spain
The recommendation to the European Council,which is composed by the heads of state and government, should be formally adopted by the Council on 20th February.
On this basis, the European Council will request opinions from both the European Parliament and the Governing Council of the ECB. It is then expected to adopt its final decision at its meeting of 22-23 March.
The new Vice President will replace Vítor Constâncio as of 1st June 2018. He will serve for a non-renewable 8-year term.
M. Centeno said on De Guindos endorsement by the Eurogroup: “The Eurogroup agreed to endorse Luis de Guindos for the upcoming ECB Vice-President vacancy. We had a brief exchange of views in the Eurogroup, and I am glad to report that it was a unanimous decision. I would like to congratulate Luis. Let me as well highlight the skills and expertise of both candidates and thank them for the interest and commitment they have shown. Tomorrow the ECOFIN is expected to formally adopt a Recommendation to the European Council. The final decision by our Leaders will be taken at the March Summit, after consulting the ECB and the European Parliament. So we are well on track for Luis to take up his position at the ECB on the 1st of June.”
Image over the headline.- Luis de Guindos at World Economic Forum held at Davos (Switzerland) in 2012. Photo by World Economic Forum [CC BY-SA 2.0 (https://creativecommons.org/licenses/by-sa/2.0)], via Wikimedia Commons. Copyright by World Economic Forum swiss-image.ch/Photo by Remy Steinegger
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