Designated ECB vice-president, Spain’s minister of Economy Luis de Guindos, said on Tuesday (20 February) that the existing expansionary monetary stance should be for “extraordinary times”, as he described the European recovery as solid.
Widely credited with steering Spain through its worst recession in decades, its outgoing Economy Minister Luis de Guindos will hope to bring pragmatism and tenacity to the European Central Bank when he takes over as vice president in June.
Eurozone finance ministers chose Spanish Economy Minister Luis de Guindos to become the next vice-president of the European Central Bank (ECB), marking the return of Spain to top EU posts after the country lost its chair in the bank's Executive Council.
Anti-corruption authorities in Latvia have arrested the governor of the country's central bank, Ilmars Rimsevics, the government said Sunday, while assuring there is "no sign of danger" to the financial system.
Investor and philanthropist George Soros held a private meeting with a senior ECB official last November to discuss eurozone integration, according to official documents published on Friday (16 February).
Finland supports the idea of expanding the European Stability Mechanism (ESM) fund into a European monetary fund but does not back the European Commission's proposal on having the European Parliament oversee it, Helsinki said yesterday (15 February).
The good news keeps coming for the French economy: data published yesterday (15 February) showed unemployment at its lowest level since 2009 while the head of the IMF praised recent reforms by President Emmanuel Macron.
Greece will not need a precautionary credit or anything that looks like a forced programme after it exits the bailout, and any new surveillance should treat Greece "as a normal country", EU's Economic and Monetary Commissioner Pierre Moscovici said.
Greece and its creditors will discuss the appropriate type of post-programme surveillance of the country or any support arrangement "at the appropriate time", a European Commission spokesperson told EURACTIV.com.