A vast fiscal fightback to the coronavirus crisis unleashed by eurozone governments could raise questions about capitals' ability to repay debts and revive the threat of countries exiting the single currency, the European Central Bank warned Tuesday (26 May).
A former governor of the Bank of Spain told EURACTIV that Luis de Guindos has the right CV to become vice-president of the ECB, a post he will take up later this week. But the ex-minister’s “brutally wrong” decisions led the country to the “disaster” of the bailout, he added.
The European Parliament approved the appointment of Spain’s former minister of Economy Luis de Guindos as ECB vice-president but sent a warning signal to the member states to improve the nomination process.
The chair of the European Parliament's economic committee has written a curt letter to the president of the Eurogroup, asking for “greater cooperation” from the Council when it comes to high-level appointments. EURACTIV.fr reports.
The EU legislators requested from the member states on Tuesday (27 February) improvements to the selection process of the bloc's top posts before giving their blessing to the appointment of Luis de Guindos as ECB vice-president.
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.
MEPs revived the race for the ECB vice-presidency this week and said they considered Ireland's central banker Philip Lane to be more convincing than the frontrunner, Spain's economic minister Luis de Guindos.
Ireland’s concerns over how the European Union should proceed with taxing large digital businesses are shared by a growing number of countries, Finance Minister Paschal Donohoe said on Monday (5 February).
Candidates for the ECB vice-presidency will put forward their names next week. For Spain, there is more at stake than meets the eye as it almost feels this is one of its last chances to regain some clout in Europe, writes Jorge Valero.
Germany's Finance Minister Wolfgang Schäuble said on Tuesday (23 May) that it is "unrealistic" to consider changing European treaties at this stage, calling instead for incremental steps by national governments to move EU integration forward in specific areas.
A new president of the Eurogroup could be elected by the summer break, as the controversy surrounding Jeroen Dijsselbloem has almost put paid to any chance he had of completing his mandate once a new Dutch government is formed.
Acting Dutch Finance Minister Jeroen Dijsselbloem said yesterday (20 March) that he would have a discussion with his eurozone colleagues about his continuation as Eurogroup president, following the electoral debacle of his party in The Netherlands.
Jeroen Dijsselbloem could well lose his role as chair of the EU body coordinating eurozone policy after his party was routed in the Dutch election. But there is a chance he could retain his position even if he is no longer finance minister in a new coalition.
The European Commission and European Central Bank have told Spain that it must complete the privatisation of the Bankia and BMN banking institutions, in order to shore up its financial sector. EURACTIV Spain reports.
Some eurozone members have expressed their willingness to invest more but did not take on board the executive’s proposal for a common positive fiscal stance to boost the bloc’s recovery, at a Eurogroup meeting held today (5 December).
EU officials in Brussels welcomed the confirmation of Luis de Guindos as Spain's economic affairs minister for a second term. The man is considered as an “extremely able” envoy of the Madrid government.
The European Parliament gave some leeway to Spain and Portugal on Thursday (6) before an expected suspension of EU funds takes place, as MEPs decided to continue their assessment by calling their finance ministers
Arguably, the most remarkable progress made during the G20 summit held in Hangzhou (China) was not included in the conclusions. It was rather the change of attitude of the architect of the final text, China.
The European Commission is expected to fine Spain on Wednesday (26 July), but it will give two extra years to Madrid to adjust its budget - while the commissioners pledge a solution for Italian banks that will protect small investors.