The process for choosing the successor of Werner Hoyer in front of the European Investment Bank (BEI), a position for which the first vice president of the acting Government, Nadia Calvinoand the executive vice president of the European Commission, the Danish Margrethe Vestagerstill pending that Berlin and Paris clarify which is your preferred candidate for the position of the Luxembourg-based organization. The deadline expires at the end of the year – Hoyer will leave the position on January 1, 2024 – and time is beginning to run out to make a decision. “Large shareholders must clarify their position and this is not the case at the moment,” the Belgian finance minister and acting president of the EIB board of governors warned this Wednesday upon his arrival at the Eurogroup meeting. Vincent van Peteghemreferring to Germany and France.
As Van Peteghem explained, his intention is to present this Tuesday, during the working breakfast that the EU economy and finance ministers will hold, the state of the process with the idea of redoubling the pressure on Berlin and Paris to make a decision. Once for all. “It is urgent to make a decision. Time is running out. By January 1 we need a new president of the EIB (because) if not, we will not be able to make new decisions. “It would be to the detriment of the EU if we do not get a president of the EIB,” he insisted, admitting at the same time that there will be no decisions this Tuesday.
There are two conditions that the chosen candidate has to meet to emerge victorious in the fight: achieve the support of 18 member states representing 68% of the bank’s capital, which is distributed based on the GDP of the partner. For this reason, “it is important that large shareholders clarify their positions,” the Belgian acknowledged, and also assured that “we are not far away.” but it is necessary for the two great European capitals to make a decision. The German liberal Christian Lindnerfrom the Vestager political family, assured during the last Eurogroup meeting held in Luxembourg a month ago that the German Government had already made a decision but diplomatic sources assure that there is still no closed agreement within the coalition government led by the Social Democrat Olaf Scholz.
Five candidates still
Although Calviño and Vestager are the two big favorites for the position in the race, the Italian Finance Minister Daniele Franco, the Polish Teresa Czerwinska and the Swede Thomas Ostros are still in the running, who have chosen not to retire for the moment, which is complicating the task of the Belgian Executive. to achieve the required majority. In addition to the presidency of the EIB, Spain is also competing to take over the European Anti-Money Laundering Authority (AMLA) whose headquarters aspires to host Madrid, the same as other major European capitals such as Paris or Rome, and whose candidacy was officially presented this Tuesday at the headquarters of the European Parliament by the Secretary of State for the Treasury and representatives of the Community of Madrid .
Calviño denied this Wednesday that the Spanish candidacy for this agency is a “bargaining currency.” to take over the EIB. “The Government of Spain has been committed to Madrid’s candidacy from the first moment. We have a highly respected authority internationally. “We have a structure that would be similar to the European one, great recognition, experience,” Calviño highlighted upon his arrival at the meeting of the Eurogroup in which he reiterated what he already said in October. “I can only repeat that Spain’s candidacy is strong and that we have strong support.”
No agreement on fiscal rules
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It is not only Spain that is resisting the EIB candidacy. There is also no agreement on the reform of fiscal rules. The negotiations are progressing more slowly than anticipated in the roadmap presented last September by the acting first vice president, Nadia Calviño, and the legislative proposal that must string together the presidency of the EU, which Spain occupies this semester, will not arrive until after the meeting of economy and finance ministers this Thursday. For now, the 27 capitals have to settle for a new “landing strip.” which, although it contains progress, is not entirely satisfactory, according to diplomatic sources, despite the optimism with which the government faces this final negotiating stage.
“In recent weeks we have intensified work and dialogue with all ministers. “I have had the opportunity to speak with everyone and I have been able to see a constructive and positive attitude and a very favorable disposition towards reaching an agreement before the end of the year,” Calviño assured. According to the acting first vice president, the new text allows us to conclude that “practically 70% of the texts” are agreed upon and that now what it is about is “giving the final push” to close an agreement in December. One of the countries most critical of the review has been Berlin, which is beginning to see some of its requests fulfilled with the inclusion of additional requirements to guarantee the reduction of the deficit although it continues to wait for more progress. “The positions are perfectly legitimate but we have a calendar that requires us to conclude before the end of the year,” the commissioner recalled. Paolo Gentiloni.