The nomination of Philip Lane, Ireland’s central bank governor, to become the European Central Bank’s next deputy was withdrawn Monday, opening the door for Spain’s candidate to take the No. 2 spot at the ECB. Lane’s nomination was withdrawn by Ireland’s Finance Minister Paschal Donohoe, who said indications pointed to Spanish Economy Minister Luis de Guindos succeeding Vitor Constâncio as the ECB’s vice president. “[It] is crucial that the election of a new vice president for the ECB is based on consensus, and should not be a source for any disagreement,” Donohoe said in a statement. “I believe Professor Lane is an exceptionally well-qualified candidate who would make an ideal person to serve on the executive board of the European Central Bank,” said Donohue.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News