The Government of Spain has decided to present Luis de Guindos as a candidate for the Vice Presidency of the European Central Bank (ECB). The ambassador of the Permanent Representation of Spain to the EU (Reper) has addressed a letter to the president of the Eurogroup, Mario Centeno, with the candidacy of De Guindos.

The Eurogroup must decide the candidate it proposes to the European Council at the meeting scheduled for next February 19. The next day, Ecofin (Council of Ministers of Economy and Finance) will formally adopt the decision that will be submitted to the European Council at the meeting on March 22 and 23. The European Council, by qualified majority, will choose for the position among persons of recognized prestige and professional experience in monetary or banking matters and after consulting the European Parliament and the Governing Council of the European Central Bank.

The chosen candidate will join the vice presidency of the ECB on June 1.

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