The Governing Council of the European Central Bank (ECB) has forwarded to the European Parliament the proposal to appoint the German Claudia Buch, current vice president of the Bundesbank, as the next president of the ECB Supervisory Board as of January 1, 2024, in replacement of the Italian Andrea Enria, whose mandate expires at the end of the year. In this way, Buch currently prevails over the candidacy of the deputy governor of the Bank of Spain, Margarita Delgado, although this decision is not final.
The still-candidate has been referred to the European Parliament, which will invite the candidate to an appearance before the Committee on Economic and Monetary Affairs and then put his election to a vote in a plenary session. Subsequently, the appointment will have to be finally confirmed by the Council of the European Union. Only then will the decision be fully effective.
As La Información has published based on information from ‘Bloomberg’, the Spanish woman has the approval of the European Parliament and made this known to the issuer by sending a letter in which Delgado was described as the most qualified to take the reins of the authority that supervises the largest banks in the region. The agency assures that the president of the ECB, Christine Lagarde, chose not to share that letter with the rest of the members of the Governing Council and that her vote would ultimately opt for the German candidate. This would generate obvious friction with the European Parliament, which must approve the entity’s decision.
Enria will leave office in December – for five years and not re-electable – and whoever succeeds him will have to be in charge of supervising the banking sector in an unprecedented situation. The Frankfurt-based organization has been forced to carry out the most rapid increase in rates since its creation (it has raised them a total of nine times since July of last year to place its reference rate at 4.25%) and The impact on the economy is already evident.
