Spain presents Hernández de Cos for the presidency of the ECB

BrusselsSpain has presented the candidacy of Pablo Hernández de Cos for the presidency of the European Central Bank. On the day the deadline set by the organization expires, the Minister of Economy—and now also of Transport—Carlos Cuerpo, has sent the candidacy by letter to the president of the Eurogroup, Kyriakos Pierrakakis, while waiting for more candidates to be presented.

If there are no surprises, de Cos, former governor of the Bank of Spain and currently managing director of the Bank for International Settlements in Basel, will contest the position currently held by Christine Lagarde against the Dutchman Klaas Knot, former governor of the central bank of the Netherlands. Lagarde announced that she would leave the presidency of the institution early on February 7th because she could no longer continue "being neutral".

"Pablo Hernández de Cos is an exceptional candidate, with recognized international prestige and a track record that demonstrates leadership, independence, and the capacity for dialogue. I am convinced that he would bring to the ECB the same firm hand he demonstrated at the helm of the Bank of Spain, where he promoted greater transparency and an approach to the citizenry," noted Vice President Carlos Cuerpo.

The Ministers of Economy and Finance of the European Union will discuss the candidacies during the next meeting that will take place on Monday in Brussels.