Antonio Cabrales resigns as director of the Bank of Spain hours after being appointed

  • The economist proposed by the PP resigns after it was published that he supported manifestos in support of Clara Ponsatí and Andreu Mas-Colell

Antonio Cabralesone of the economists most prestigious in the country, has resigned To be adviser of the Bank of Spain just a few hours later to be appointed by the Council of Ministers for the position to PP proposal. The professor at the Carlos III University of Madrid, thus, has decided to step aside before even having sworn in the position, after late Monday it was reported that subscribed in 2018 a manifesto in support from Clara Ponsatí, ex-minister who fled from Justice after the 1-O referendum. Cabrales (Madrid, 1964) is not pro-independencebut wanted to support a ex-partner of his time as a teacher at the Pompeu Fabra University (1993-2006).

The news has been confirmed by this newspaper after it was announced by ‘El Mundo’, which has revealed that the economist also subscribed in his other day manifest in support of Andreu Mas-Collelllike Ponsatí former teammate his at the Catalan university and prosecuted by the Court of Accounts for the financing that the Government allocated to disseminate the ‘procés’ abroad during his time as minister until 2015.

Likewise, the same conservative digital media that published the news about Ponsatí (‘The Objective’) pointed out this Tuesday -at the same time that the Council of Ministers was held- that Cabrales had supported a economists manifesto who allegedly endorsed the doctoral thesis of Pedro Sánchezwhich in 2018 caused some controversy after his arrival at the presidency of the Government.

Fire friend

Speaking to ‘ABC’, the economist explained the reasons for his decision: “I don’t want to stress the country anymore and it seemed to me that this was going to tense. we need calm“. Cabrales, thus, has decided to resign before the possibility that a wave of Information intended to harm you. In financial media there is speculation tonight that PP factions discontented with his choice by the party leadership They could have leaked their support for the former independentistas to force their departure to related media.

His choice, in fact, had been very of taste of the top leaders of the Bank of Spaindue to his high technical profile as an economist highly regarded academic and no political affiliation. Of course there was liked more that the designation of Judith Artal, PhD in Economics from the University of Navarra and State commercial technician, but also Chief of Staff of Nadia Calviño in the Ministry of Economy until just a few weeks ago.

new negotiation

Related news

Now, foreseeably, the Ministry and the PP will have to reopen the negotiation for the Conservatives to name a new candidate. The agreement for the election of Cabrales and Arnal to replace Fernando Eguidazu and Carmen Alonso it had not been easy. Traditionally, the government party has appointed three directors of the Bank of Spain and the first of the opposition two, while the last one was reserved for the Catalan minority in Congress. However, those balances have been broken amid the tensions between the PSOE and the PP to renew other state bodies, mainly the General Council of the Judiciary (CGPJ).

With the appointment of Cabrales, the PP was going to have a counselor appointed, by four from the Government and one from the Catalan parties. A cast less equitable than usual, but in practice it was not so because the governor, Pablo Hernández de Cos, had the intention of introducing the economist into the executive commission, where there is only one counselor appointed by the socialists (Soledad Núñez). Now we will have to resume the process and see if the popular ones insist on sending the message that they are electing a technical profile disconnected from his party or change strategy seen the result.

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