MEPs back Spanish finance minister Luis De Guindos’ appointment as European Central Bank Vice-President, but demand improvements to the nomination process.

Spanish finance minister Luis De Guindos’ appointment as European Central Bank Vice- President was backed by the Economic and Monetary Affairs Committee on Tuesday, by 27 votes to 14, with 13 abstentions.

 

However, despite approving his nomination, decided by EU Finance Ministers, MEPs expressed reservations about the selection procedure, gender balance within the ECB,  procedure, the timing of the appointment and the political independence of the nominee.

 

MEPs want the Council to engage with the Parliament to improve the process for future appointments. The committee decision will have to be confirmed by Parliament as a whole, in a plenary vote planned for March.

 

Parliament is consulted on the appointment, but cannot veto it. Mr De Guindos became the only contender for the top post when  the only other candidate, Irish central banker Philip Lane, withdrew his candidature last week.

 

More info on the discussion held on Monday