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Spain is confident that it will maintain its position at the EIB with another candidate

The appointment of Vice-President of this body must be mutually agreed with Portugal

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Spain is confident that it will maintain its position at the EIB with another candidate

Román Escolano leaves his position as vice-President of European Investment Bank (EIB) to become minister of economy. This position is one of most outstanding international positions in European Union (although since 1 May Vice-President of European Central Bank will be Luis de Guindos). And Spanish government says that it will have no problem keeping it, and that it will be able to appoint anor candidate to finish mandate assigned by Escolano, which ends in 2020. And this, despite fact that this position shares it in alternate terms with Portugal.

"We will continue to maintain that position, what we will do is replace Román with anor equally competent person," said Wednesday to Europa Press The government spokesman and Minister of Education, Íñigo Méndez de Vigo, in same line with or members of Executive. The doubt arises from position in Council of EIB shares Spain with Portugal, and take turns to occupy it. Spain has been occupying it since 2010 to vice-President Magdalena Álvarez. It was supposed to be until 2015. But it resigned in June 2014 before confirmation of its imputation for case of ERE of Andalusia. Then square in Council of EIB did not pass to Portugal, since it occupied it Román Escolano, anor Spaniard. And it was agreed with Portugal to maintain it until 2020. Despite march of Escolano, Spanish government says that agreement with Portugal was until 2020, so re is no problem in naming anor candidate.

Will Lisbon oppose and claim seat after more than eight years without having it? Portugal is currently occupying several positions of great relevance ( General Secretariat of UN and presidency of Eurogroup, among ors). Portuguese executive sources point out that pact with Spain for EIB is effective until 2020. Although y recalled that, in any case, name of successor must be agreed between two countries.

Eight Vice-Presidents

The EIB, for its part, simply explains that procedure indicates that candidate "will be appointed by EIB's Board of Governors in accordance with joint proposal of Kingdom of Spain and Republic of Portugal".

The Directorate of EIB, founded in 1958 and based in Luxembourg, is composed of a President and eight Vice-Chairpersons (although re was now a vacant position). They are appointed by Council of Governors — composed of Ministers of Finance of 28 member States — for a six-year term. The president is German Werner Hoyer. The Vice-Presidents, all men, are Italian Dario Scannapieco; The British Jonathan Taylor; The Frenchman Ambroise Fayolle; The Irishman Andrew McDowell; The Slovak Vazil Hudák; The Finn Alexander Stubb; And until yesterday, Spaniard Román Escolano.

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