Eurogroup backs Spain’s Luis de Guindos to be next ECB vice president

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Photograph artwork copyright © Travel Gazette.
Photograph artwork copyright © Travel Gazette.

The Eurogroup agreed to endorse Spain’s economy minister Luis de Guindos for the upcoming European Central Bank (ECB) Vice-President vacancy, Eurogroup President Mario Centeno said on Monday.

“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, ” said Centeno in a news conference after a regular meeting of the eurozone finance ministers.

He said the final decision by EU Leaders is expected be taken at a summit in March, after consulting the ECB and the European Parliament. And de Guindos is expected to take up his position at the ECB on June 1.

It’s widely believed that a vice president from a southern European country would be likely to boost the chances of a German becoming the next ECB president in 2019, and thus likely to have a more hawkish monetary policy.

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