Luis de Guindos
Luis de Guindos | |
---|---|
Jose Manuel Soria | |
Succeeded by | Álvaro Nadal |
Personal details | |
Born | Madrid, Spain | 16 January 1960
Political party | People's Party |
Education | CUNEF University |
Luis de Guindos Jurado (born 16 January 1960) is a Spanish politician serving as
Early life and education
De Guindos was born in Madrid, Spain, on 16 January 1960. He is a Bachelor of Economics and Business at CUNEF University.[4]
Career
De Guindos was once the Managing Partner of Advisors AB, secretary of the magazine "Business Information Spanish", and vocal advisor to the Secretary of State for Economy of Spain and Head of Technical Office of the General Secretariat of Commerce.
In late 1996, de Guindos was appointed General Director for Economic and Competitiveness. He has served on the board of
Private sector, 2004–2011
In 2006, de Guindos was appointed advisor for
From 2011, de Guindos worked for the board of Mare Nostrum Bank,
Minister of Economy and Competitiveness, 2011–2018
De Guindos has served as economy minister in Rajoy's centre-right government since it took office in December 2011 and is credited with steering Spain to economic recovery following the euro zone's
In 2012, de Guindos and Rajoy initially blocked the appointment of
In January 2014, de Guindos was elected co-chair (alongside Anders Borg, later Valdis Dombrovskis) of the EPP Economic and Financial Affairs Ministers Meeting, which gathers the center-right European People's Party (EPP) ministers ahead of meetings of the Economic and Financial Affairs Council (ECOFIN.[16][17] In August 2014, German Chancellor Angela Merkel, who also belongs to the EPP political bloc, gave him her backing in his bid to succeed Jeroen Dijsselbloem as leading the Eurogroup from mid-2015;[18] Securing the Eurogroup post for de Guindos was a key political goal for Rajoy, who hoped that his appointment will cement perceptions both at home and abroad that Spain has emerged from crisis and can be taken seriously once again at international level.[19] Meanwhile, on 5 June 2015, Dijsselbloem announced he would seek a second term, prompting de Guindos saying he would mount a challenge.[20] At a Eurogroup meeting in July 2015, Dijsselbloem picked up 10 votes, with the remaining countries subsequently deciding to vote unanimously for his second term.[21]
In late 2015, de Guindos announced that Spain would have a budget deficit of less than 3 percent of GDP by 2016.[22] However, after the country missed its 2015 public deficit target of 4.2 percent during months of fruitless coalition talks following inconclusive national elections, Rajoy and de Guindos signaled they were open to asking the European Commission for flexibility on the target.[23] When the Commission eventually began formal disciplinary procedures against Spain and Portugal in 2016 for their excessive deficits in 2014 and 2015, de Guindos publicly promised that Spain would escape any sanctions from the European Union.[24]
When Spain's acting
In 2017, de Guindos was widely seen as a natural successor to replace Jeroen Dijsselbloem as next chairman of the Eurogroup but he ruled himself out early in favour of an expected candidacy to become Vice-president of the European Central Bank.[27] After Ireland withdrew the candidacy of Philip Lane in February 2018, German Finance Minister Peter Altmaier was one of the first among his peers to openly endorse de Guindos.[28]
In March 2018, De Guindos finally left his position as Minister and Román Escolano replaced him. On 14 March 2018, a majority of the European Parliament endorsed him as new ECB Vice-president.[29]
Other activities
European Union organizations
- European Systemic Risk Board (ESRB), Ex-Officio Member[30]
- European Investment Bank (EIB), Ex-Officio Member of the Board of Governors (2011-2018)[31]
- European Stability Mechanism (ESM), Member of the Board of Governors (2012-2018)[32]
International organizations
- African Development Bank (AfDB), Ex-Officio Member of the Board of Governors (2011-2018)[33]
- Asian Development Bank (ADB), Ex-Officio Member of the Board of Governors (2011-2018)
- Central American Bank for Economic Integration (CABEI), Ex-Officio Member of the Board of Governors (2011-2018)[34]
- European Bank for Reconstruction and Development (EBRD), Ex-Officio Member of the Board of Governors (2011-2018)[35]
- Inter-American Investment Corporation (IIC), Ex-Officio Member of the Board of Governors (2011-2018)
- International Monetary Fund (IMF), Ex-Officio Member of the Board of Governors (2011-2018)[36]
- Multilateral Investment Guarantee Agency (MIGA), World Bank Group, Ex-Officio Member of the Board of Governors (2011-2018)[37]
- World Bank, Ex-Officio Member of the Board of Governors (2011-2018)[38]
Research organizations
- ELCANO – Royal Institute for International and Strategic Studies, Member of the Board of Trustees[39]
Political positions
De Guindos, who is married with two children, is a practicing Roman Catholic. In September 2014, he attended the beatification of one of the leaders of the conservative Opus Dei movement. Yet in the press he has said he supports the right of gay people to marry and did not support the government's 2014 proposal to outlaw abortion.[40]
During his second term in office, de Guindos rejected a potential bailout of troubled Banco Popular with public money.[41]
References
- ^ John Fraher and Angeline Benoit (April 27, 2012). "Spain Rules Out Bailout as De Guindos Says Banks Funded". Bloomberg. Retrieved June 10, 2012.
- ^ "Ministerio de Economia Luis de Guindos presenta el cuadro macroeconómico que prevé un crecimiento del 3% para 2004" (PDF). Ministry of Economy and Finance (Spain). Retrieved June 10, 2012.
- ^ Daniel Woolls and Sarah DiLorenzo (June 9, 2012). "Europe bailout of Spain could cost $125 billion". The Washington Times. Retrieved June 10, 2012.
- ^ Empresa (EOC) insider: Luis Jurado Retrieved June 10, 2012
- ^ Nicholas Hirst (October 2, 2014), Luis de Guindos: reform champion European Voice.
- ^ "Spain names ex-Lehman executive as economy minister". BBC News. BBC. December 21, 2011. Retrieved June 10, 2012.
- ^ "Spain's new Prime Minister Mariano Rajoy has named ex-Lehman Brothers banker Luis de Guindos in the pivotal job as economy minister". RTÉ News. RTÉ. December 21, 2011. Retrieved June 10, 2012.
- Prisa. February 2, 2010. Retrieved June 10, 2012.
- Bloomberg Business. Bloomberg L.P.Retrieved 3 May 2019.
- Businessweek. 18 January 2013. Archived from the originalon 18 January 2013. Retrieved June 10, 2012.
- ^ Robin Emmott (April 25, 2015), Spain to bid for euro zone chair in challenge to Dijsselbloem Reuters.
- ^ Tobias Buck and Peter Spiegel (June 9, 2015), De Guindos fights for eurogroup job, with Spanish pride at stake Financial Times.
- ^ Nicholas Hirst (October 2, 2014), Luis de Guindos: reform champion European Voice.
- European Voice.
- ^ Claire Davenport (November 5, 2012), Spain opposes appointment of Yves Mersch to ECB Reuters.
- European People’s Party(EPP).
- European People’s Party(EPP), press release of 28 January 2014.
- RTÉ News and Current Affairs, August 25, 2014.
- ^ Tobias Buck and Peter Spiegel (August 25, 2014), Angela Merkel backs Luis de Guindos to chair eurozone finance ministers’ group Financial Times.
- ^ Toby Sterling (June 5, 2015), Netherlands' Dijsselbloem seeks second term as Eurogroup president Reuters.
- ^ Zeke Turner (July 13, 2015), Dijsselbloem secures second term Politico Europe.
- ^ Gernot Heller (September 1, 2015), Spain is best example that Europe is doing things right: Schaeuble Reuters.
- ^ Rodrigo de Miguel and Sarah White (February 12, 2016), Spain likely missed deficit goal in 2015: economy minister Reuters.
- ^ Jesus Aguado (July 7, 2016), Spain says will escape EU deficit sanction, set new fiscal path Reuters.
- ^ Paul Day (April 15, 2016), Spanish minister resigns after links to offshore deals alleged Reuters.
- ^ Adrian Croft and Jesús Aguado (November 4, 2016), Cabinet reshaped by Spain's Rajoy draws strong opposition criticism Reuters.
- ^ Mehreen Khan (December 5, 2017), The Eurogroup’s revolution is on hold Financial Times.
- ^ Maria Tadeo and Carolynn Look (February 19, 2018), Spain Secures ECB for Guindos After Long Campaign to Regain Seat Bloomberg News.
- ^ http://www.europarl.europa.eu: Parliament endorses Luis de Guindos as new ECB Vice-President
- ^ Members European Systemic Risk Board (ESRB).
- ^ Board of Governors European Investment Bank (EIB).
- ^ Board of Governors: Luis de Guindos European Stability Mechanism.
- ^ AfDB Annual Report 2017 African Development Bank (AfDB).
- ^ Board of Governors Central American Bank for Economic Integration (CABEI).
- ^ Board of Governors European Bank for Reconstruction and Development (EBRD).
- ^ Board of Governors International Monetary Fund (IMF).
- ^ Board of Governors Multilateral Investment Guarantee Agency (MIGA), World Bank Group.
- ^ Board of Governors World Bank.
- ^ Board of Trustees ELCANO – Royal Institute for International and Strategic Studies.
- European Voice. Retrieved 3 May 2019.
- ^ González, Andrés; Aguado, Jesús (May 19, 2017). "Santander or Bankia viewed as likely saviors for Spain's Popular". Reuters. Madrid. Retrieved 3 May 2019.