Sunday 22 July 2018

'Preferred candidate' Lane set to lose out on ECB role

Central Bank Governor Philip Lane
Central Bank Governor Philip Lane
Dearbhail McDonald

Dearbhail McDonald

The Governor of the Central Bank, Philip Lane, has emerged as the preferred candidate for the role of vice-president of the European Central Bank, following a presentation yesterday to the European Parliament's Economic and Monetary Affairs (ECON) committee.

Despite ECON's preference, Mr Lane is set to lose out to Spain's Economy Minister Luis de Guindos for the role as Ireland has not yet received support of key euro-area governments. Countries can still change their minds before the euro-area finance ministers decide at a meeting on Monday in Brussels.

It is understood ECON will commend both men's presentations, state its preference for Mr Lane and excoriate the lack of female candidates. ECON, which received presentations from Mr Lane and Mr de Guindos at a private hearing, will call on the eurogroup to hold a public hearing to facilitate scrutiny of the final candidate.

Irish Independent

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