The Government has formally presented the candidacy of Pablo Hernández de Cos for the presidency of the European Central Bank. Carlos Cuerpo will defend it at the Eurogroup meeting on November 9.
According to Infobae, the Government has formally presented the candidacy of economist Pablo Hernández de Cos for the presidency of the European Central Bank (ECB). The proposal will be defended by the First Vice President and Minister of Economy, Carlos Cuerpo, at the Eurogroup meeting scheduled for November 9.
The Ministry of Economy has already communicated the candidacy to the President of the Eurogroup, Kyriakos Pierrakakis. The department supports the proposal due to the economist's experience in central banking, monetary policy, and financial stability.
Cuerpo highlighted in a statement Hernández de Cos's career, describing him as
an exceptional candidate with a recognized international reputation
According to the minister, his time at the helm of the Bank of Spain was marked by greater transparency and an approach to the public, something he believes would be carried over to the ECB.
Hernández de Cos currently holds the position of General Manager of the Bank for International Settlements (BIS). His career began about thirty years ago at the Bank of Spain, where he eventually led the Department of Economics, Statistics and Research and worked as an advisor to the ECB's executive committee in Frankfurt.
In 2018, he took on the governorship of the Bank of Spain, a position he held until 2024. During those six years, he was part of the Governing Council and the General Council of the ECB, with direct participation in the monetary policy decisions of the eurozone.
He also chaired the Basilea Banking Supervision Committee and the Technical Advisory Committee of the European Systemic Risk Board (ESRB). He holds a PhD in Economics from Complutense University of Madrid.
The final decision on the presidency of the ECB rests with the European bodies, and the Spanish candidacy will be discussed at the Eurogroup meeting on November 9.
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