European Council Decision (EU) 2018/509 of 22 March 2018 appointing the Vice-President of the European Central Bank

What it is

The Committee on Economic and Monetary Affairs adopted the report by Roberto GUALTIERI (S & D, IT) on the Council recommendation for appointment of the Vice-President of the European Central Bank. The European Council consulted the European Parliament on the nomination of Luis de Guindos as Vice-President of the European Central Bank (ECB) for an eight-year term, starting on 1 June 2018. The relevant parliamentary committee evaluated the candidate's credentials, in particular in view of the requirements laid down in Article 283(2) of the Treaty on the Functioning of the European Union and in light of the full independence of the ECB. It subsequently held a hearing of the candidate at its meeting on 26 February 2018. Members called on the European Parliament to deliver a favourable opinion on the Council recommendation to appoint Luis de Guindos as Vice-President of the European Central Bank. The European Parliament decided to deliver a favourable opinion on the Council recommendation to appoint Luis de Guindos as Vice-President of the European Central Bank . Luis de Guindos has been Minister of Economy, Industry and Competitiveness of Spain since 2011. Parliament, however, raised concerns about the gender balance, the selection process, the timetable for appointment and political independence. Members also asked the Council to engage in a dialogue with Parliament as regards the possibilities of improving the process for upcoming appointments.

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