The Bundesbank Vice President is responsible for financial stability at the central bank, among other things.
(Photo: Reuters)
Frankfurt The field of female candidates to succeed Andrea Enria, chief bank supervisor of the ECB, is narrowing. Only the vice presidents of the Bundesbank and the Spanish central bank, Claudia Buch and Margarita Delgado, are still in the running, several people familiar with the topic told the Handelsblatt.
The vice-president of the Irish central bank, Sharon Donnery, on the other hand, has backed down. The ECB is expected to forward the shortlist with Buch and Delgado to the Monetary Committee of the European Parliament on Wednesday evening.
The ECB declined to comment on this. Ireland’s central bank did not respond to a request to withdraw from Donnery, who also had ambitions for the post. According to insiders, Donnery’s chances of succeeding Enria would have been slim anyway for proportional reasons.
When it comes to the allocation of posts at European level, it is important that the different interests of the EU countries are taken into account. Ireland is already relatively well represented among the top European posts. ECB chief economist Philip Lane is from Ireland, as is the head of the Eurogroup, Paschal Donohoe.
Enria will step down at the end of the year. It would be a prestigious achievement for the federal government if Buch, a German, were to succeed him. In addition, Finance Minister Christian Lindner (FDP) would then have the opportunity to nominate a successor according to his ideas for the post of Bundesbank Vice President.
However, there are also voices who see this rather critically. They argue that this could diminish Germany’s chances of nominating a successor to ECB President Christine Lagarde, whose term ends in 2027.
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Other personal details could also be included in the negotiations, such as the successor to former ECB board member Fabio Panetta. The Italian government wants to make him the new head of the Banca d’Italia, which would free up his post in Frankfurt. It is expected that Italy will again propose a successor and have their say. Opposing candidates would also be possible, for example from Eastern Europe.
As early as 2018, members of the European Parliament wanted a woman to fill the top position at the ECB Banking Supervision. However, the European Parliament does not have the last word in the process.
Buch and Delgado now have to face hearings in the Monetary Committee of the European Parliament. However, the decision on a candidate is made in the Governing Council and must then be confirmed by the EU Council with a qualified majority.
More: Head of ECB Banking Supervision – Claudia Buch among the candidates