The Economic Affairs Committee of the European Parliament (EP) supported this Wednesday the appointment of the vice president of the German Bundesbank, Claudia Buch, to chair the Supervisory Board of the European Central Bank (ECB). The decision, adopted with a narrow margin of 29 votes in favor, 23 against and 3 abstentions, will have to be endorsed by the plenary session of the European Parliament in its session at the beginning of October and approved by the Council of the European Union (EU). . , which represents its 27 member states.
In July, the coordinators of the parliamentary commission issued a non-binding opinion in which they expressed their unanimous preference for the other candidate for the position, the deputy governor of the Bank of Spain, Margarita Delgado. However, the Governing Council of the ECB, which makes the decision, nominated Buch for the position on September 13.
In a public hearing with MEPs held this Wednesday before the vote – in which the vote is secret -, Buch refused to comment on the election procedure, but defended that his extensive experience in the banking sector, including a decade at the Bundesbank , makes her a suitable person for the position.
“I have complete confidence in my application, in my own ability and strength for this position. This is what I can bring to the table,” said the German, underlining her “total commitment to banking supervision and financial stability in Europe.” If her appointment is confirmed, Buch will replace Andrea Enria as head of the supervisor of the large banks in the eurozone as of January 1, 2024.
Your choice of Calviño to the EIB
The election of the German representative for this position increases the chances that the acting first vice president of the Spanish Government, Nadia Calviño, will take over the presidency of the European Investment Bank (EIB), since she will elect two Spaniards for two senior positions. Economics would have been more complicated given that the EU usually tries to maintain a geographical balance at the head of its institutions.
