The Diplomat
The Governing Council of the European Central Bank (ECB) has proposed German Claudia Buch, currently vice president of the Bundesbank, for the position of president of the ECB’s Supervisory Board, which would leave out the deputy governor of the Bank of Spain, Margarita Delgado, despite being the candidate preferred by the European Parliament.
As reported by Europa Press, the Council has presented Buch’s candidacy to the European Parliament. The German would take office as of January 1, 2024, replacing the Italian Andrea Enria, whose term of office expires at the end of the year. The ECB’s decision is not final.
Delgado was among the main candidates, but, according to the specialized press, her choices have been conditioned by the presence of several Spaniards at the top of several EU financial institutions, taking into account the traditional balance maintained by senior officials from Spain, Italy, Germany and France.
This is the case of the vice-presidency of the ECB, held by Luis de Guindos; or the presidency of the European Banking Authority (EBA), held by José Manuel Campa. In addition, the governor of the Bank of Spain, Pablo Hernández de Cos, chairs the Basel Committee, and Fernando Restoy heads the Financial Stability Institute (FSI) of the Bank for International Settlements (BIS).
