He added, “Economy Minister Carlos Budde decided not to submit his candidacy for the presidency of the Eurogroup.” After several days of speculation, it became the Irish competitor who defeated him in the previous process Paschal DonohueHe will announce his resignation … The presidency of the organization, which sets the pace of economic policies in the euro zone, will be transferred to the World Bank The government closed the door on Friday To the possibility of getting involved for a third time in diplomatic efforts – which were unsuccessful in the previous two attempts – to try to obtain sufficient support to secure the presidency of the Eurogroup.
Things weren’t looking good. Boudi had previously failed to run for office the first time due to a lack of support, and until this moment the circumstances that forced him to withdraw have not changed, and new elements have emerged that are not in his favor.
First of all, it is still there in the Eurogroup The vast majority of ministers are active in the Popular Party (EPP) More recently, the movements of the Socialist Workers’ Party (PSOE) have not been characterized by a move away from radicalism, but on the contrary. Moreover, the head of government, Pedro Sánchez, has wasted enormous political capital in Europe on issues such as achieving support for the recognition of Catalans in the EU, which now leaves him no room for maneuver to continue seeking favors from other presidents.
Moreover, in this game of position distribution in Europe, the decision to nominate Carlos Corpus to lead the Eurogroup would make it more difficult. Socialists will lose options To aspire to institutional positions now, with the choice of Speaker of Parliament and Speaker of the Council due to be decided in 2026, is more desirable.
On the other hand, the Luis de Guindos’ term as vice president The position of ECB president expires next spring, and although in Brussels it is unlikely that another Spaniard will succeed him, the government could still press its options to promote the candidacy for the position of Carlos Legion himself.
The Spanish Economy Minister will therefore not participate in the process that began on Friday with the submission of nominations, which will be resolved in two weeks by a simple majority vote on December 11 – in a forum dominated by EPP ministers. The next day, the new president begins his term, which lasts for two and a half years. Meanwhile, the Minister of Finance of Cyprus holds this position on an interim basis.
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the Spain’s government resigns to fight With Corbo’s candidacy for the presidency of the Eurogroup, a position he has tried unsuccessfully to achieve in recent years on two occasions, once with Nadia Calviño and the other with Carlos Corbo, he fuels increasingly persistent rumors, not only in domestic financial circles but also in Europe, that the Spanish authorities’ real goal of increasing their influence in European institutions is the European Central Bank.
On Friday, the government did not miss the opportunity to say that despite this step backwards, “Spain will continue to work to ensure… A large and influential presence in major institutions European economic and financial institutions.
In recent weeks, some media outlets immersed in the Brussels atmosphere, such as Politico or the Financial Times, have thought about it. Possible candidacy of the former Governor of the Bank of SpainPablo Hernandez de Cos, as one of the strongest options for the October 2027 replacement of Christine Lagarde at the head of the European Central Bank. Something that has certainly been circulating for a few weeks in local financial circles and which Bank of Spain management officials have been speculating about for even longer.
Real chances of success for his candidacy are also encouraged through The practical disappearance of senior Spanish officials Major European financial institutions in the coming weeks, due to the timing of José Manuel Campa’s departure for personal reasons to head the European Banking Authority (EBA); At the end of the term of the Vice-President of the European Central Bank, Luis de Guindos, he will leave Spain without being present on the supervising Executive Committee.