SPAIN’s finance minister’s shot at being the next vice-president of the European Central Bank hit troubled waters after he failed to impress MEPs.
Despite being tipped as Mario Draghi’s deputy, finance minister Luis de Guindos has to see off strong competition from Ireland’s central bank governor, Philip Lane.
But it was Lane came across as the ‘more convincing’ candidate during closed-door meetings with MEPs in Brussels.
The candidates were grilled on their approaches to monetary policy, with some MEPs expressing ‘reservations for minister De Guindos’s appointment’, said Roberto Gualtieri, the committee’s chairman.
However, Guindos has the backing of France and Germany and will give Spain a seat, which they do not currently have, at the ECB table.