Gender equality has not reached most relevant European institution in dealing with crises, ECB. Parliament presses for Euro partners to present a short list of candidates to succeed Vice President Vítor Constâncio, and to have women on that list. The government takes it for granted that this chair will be for a Spaniard. The favorite, Luis de Guindos, has two problems: Ministers are not welcome in Frankfurt, and gender equality can play an important role in final decision.Learn More
- Minister Luis de Guindos insists that Spain will have a position in ECB
- Five years of Spanish defeats in fight for great positions in EU
- The troika seeks to improve results of Sareb
Sabine Lautenschläger is only woman in European Central Bank's Sanhedrin, executive board chaired by Italian Mario Draghi. Perhaps for a short time: European Parliament has made it clear in a letter sent to Eurogroup ( meeting of Euro ministers) that it expects "a list of at least three candidates" to cover next vacancy, that of Constâncio, which leaves in May 2018. The Parliament also hopes that this list respects "gender equality", according to missive to which this diary has had access.
This debate already provoked a burning controversy in months prior to appointment of Luxembourger Yves Mersch, who won Spanish game Antonio Sáenz de Vicuña in Eurobanco for desperation of government of Mariano Rajoy, who has failed over and over again in Battle for positions of relevance. And n Parliament asked for short lists and women candidates.
The decision on ECB's advisers corresponds to Eurogroup and ultimately to Heads of State and Government, but Parliament and central bank itself have a very important consultative role. In case of ECB, because Draghi has earned a reputation. In Parliament, because both Eurogroup and ECB need to take full care of ir controversial democratic credentials.The Guindos option
Guindos has not taken for granted that it is going to be presented, but it is a secret to voices that charge is interested. And he's a favorite alongside Irish Philip Lane. But Spanish minister has several factors against it. The key is that ministers are not well received in Frankfurt, with ECB very conscious of importance of safeguarding ir independence. Guindos can also harm institutional balance: two most likely names to happen to Draghi are German Jens Weidmann and Frenchman François Villeroy de Galhau, which would facilitate Lane's candidacy to prevent two large countries Cope with main chairs.
Guindos has support of Berlin, and fact that whole of Europe is aware that Spain boxing well below its weight in institutions. Gender equality appears as a stumbling block: In initial lists that Spain has managed re are hardly any women, and only Gloria Hernández (Secretary of Treasury with Rodrigo Rato) has any choice.
In his letter to Eurogroup, Parliament, through Roberto Gualtieri of Economic Commission, makes it clear that he wants a prominent role, with informal meetings with possible counselors. The candidacies will be known in January. And that game will be played between February and March.
Guindos takes for granted that Spain has position insured. The sources consulted in Brussels, Frankfurt and Berlin agree that Spain has many options, "as long as it presents right candidate or candidate." In Brussels, minister has a good sign, "but perhaps Spain is playing too much political capital if he decides to introduce him as a candidate," says a high European source.Paris and Berlin look for chair of Draghi
The next two years open several vacancies in ECB. Chief economist Peter Praet will leave his post in 2019, and president, Mario Draghi, in November of that year. Both France and Germany aspire to that position. Chancellor Merkel can propose to one of his trusted men, Jens Weidmann, a sort of Draghi antagonist; France, with François Villeroy de Galhau. If re is no agreement Berlin-Paris, Dutchman Klaus Knot could appear.