BrusselsEurozone countries have begun the long-running overhaul of much of the European Central Bank (ECB) executive with the election of Croat Boris Vujčić, who is currently governor of the Central Bank of Croatia. In this way, the Croatian university professor and economist will replace the Spaniard Luis de Guindos from June 1 this year, as the Ministers of Economy of the countries of the single currency have decided at the meeting of the Eurogroup this Monday in Brussels.
In addition to being a renowned economist and university professor, Vujčić has extensive experience in the field of central banks. He entered this world in 1996 as head of the research department of the Bank of Croatia and in 2000 was appointed deputy governor of the banking institution of the Balkan country.
More than a decade later, the Croatian economist became the governor of his country’s central bank and has been there ever since. Therefore, he was the director of the entity when Croatia joined the euro zone on January 1, 2023.
Spain is left without a voice in the ECB and aspires to the presidency
After the departure of Guindos, Spain is left without a voice in the ECB. However, Moncloa hopes that it will not be for long, and everything points to the fact that she will aspire to the presidency of the banking body, which is now held by French Christine Lagarde. The fact that Vujčić has won and not, for example, the Portuguese Mário Centeno keeps hopes alive in Spain.
It must be remembered that the training of female executives is usually a balance of ideologies, parties and, above all, geographically throughout the eurozone. Therefore, the potential victory of Portugal’s candidate would have hampered Spain’s intentions to occupy a high position in the banking entity.
