European ministers set to choose completely new central bank deputy

De Guindos’ only opponent, the Irish central bank governor Philip Lane, withdrew his candidacy to the position earlier on Monday afternoon.

Spain can be therefore poised to return to the ECB’s executive board after a six year-absence.

Paschal Donohoe, minister for finance of Ireland, told reporters in Brussels on Monday that will This specific can be important that will there’s a consensus inside Eurogroup on the appointment for ECB vice president.

“many weeks ago I nominated Philip Lane for the position of vice president of the European Central Bank. Today I am confirming that will we will not be putting This specific candidacy forward for a vote This specific evening. We believe This specific can be very important given how important the role can be of vice president of the ECB that will the decision be made inside basis of consensus,” Donohoe told reporters at his arrival in Brussels on Monday.

The decision means that will the next ECB president — a role that will becomes vacant next year – can be more likely to come by a northern European country along with therefore more likely to have a hawkish outlook when compared to incumbent Mario Draghi.

Four out of six positions within the ECB executive board will have to be replaced by the end of 2019. The first of these will take place on June 1, which will be the completely new vice president’s first day on the job.

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