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Irish ECB candidate Philip Lane wins backing of key EU parliament committee

The final decision will be taken on 22 March at an EU summit.

Philip Lane
Philip Lane
Image: Leah Farrell via Rolling News

IRISH CENTRAL BANK chief Philip Lane, who is running for the vice-presidency of the European Central Bank, has won the backing of a key European Parliament committee.

After talking to Lane and his rival for the job, Spanish Economy Minister Luis De Guindos, in an informal hearing “the majority of the political groups considered Governor Lane’s performance more convincing”, Committee on Economic and Monetary Affairs chairman Roberto Gualtieri said.

“Some groups expressed reservations for Minister De Guindos’ appointment,” he added in a statement.

Eurozone finance ministers are scheduled on Monday to pick their favourite to succeed Portugal’s Vitor Constancio, whose eight-year mandate expires in May, as the ECB’s number two.

The final decision will be taken on 22 March at an EU summit after consultations with the European Parliament and the ECB’s Governing Council.

Luis de Guindos said this month he was “convinced” he will have enough support to clinch the post after Madrid officially nominated him for the job.

Constancio’s replacement is being watched closely in European capitals as it is the first in a series of changes due at the top of the ECB over the coming two years, including the post of the chief of the bank currently held by Italian Mario Draghi.

The committee today also said it “regrets that no female candidates have been put forward, as requested, and calls for a more gender-balanced representation in the ECB”.

Only one woman currently sits on the ECB’s ruling body, German national Sabine Lautenschlaeger.

- © AFP, 2018

Read: Gardaí treating death of woman found in Ranelagh home as suspicious

More: ’71 dead. Still no arrests. How come?’: Grenfell campaigners drive poignant message through London

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