Luis de Guindos wins BCE deputy chairman job
Tuesday, February 20, 2018 @ 11:40 AM
SPAIN'S economy minister Luis de Guindos has been chosen as deputy chairman of the European Central Bank (BCE) after rival candidate Philip Lane's application was withdrawn by the Irish government.
Lane, who is governor of the Central Bank of Ireland, looked set to clinch the role – which carries a salary of around €350,000 – due to his very relevant experience, but finance minister in the country, Paschal Donohoe, announced the BCE job was no longer under consideration.
This meant De Guindos was the sole candidate and he will now be second in command to BCE chairman Mario Draghi from June, after Portugal's Vítor Constáncio leaves when his term of office ends.
De Guindos' new job, which will see his salary go up more than fivefold, will not be confirmed until tomorrow (Tuesday) when the official announcement is made.
But Philip Lane has not been barred from applying to the BCE altogether – in the next two years, five key roles at the central Eurozone hub in Frankfurt will come up for renewal and Lane will be permitted to file his candidature.
Read more at thinkSPAIN.com