— FTD Notes Strong Opposition to Constancio’s Appointment
FRANKFURT (MNI) – European Central Bank Vice President Vitor
Constancio is being considered to head the Eurozone bank supervisory
body that will be run by the ECB, the German business daily Handelsblatt
reported late Monday evening, citing European Commission sources.
According to these sources, Constancio could be given the post
provided he were able to dedicate himself completely to the task of bank
supervision and withdraw entirely from monetary policy, thus avoiding
any conflict of interest, the German business daily said.
The ECB’s banking supervision head would regularly appear before
the European Parliament, the paper added.
According to the Financial Times Deutschland, however, there would
be strong opposition to Constancio getting the job. There are doubts
about his management capacities, the paper said, citing a central bank
source who called the idea a “joke”.
In a pre-release of a story to be published on Wednesday, the FTD
added that Yves Mersch and Peter Praet are also possible candidates for
role as bank supervisory head. Praet was responsible for banking
supervision at the Belgian central bank.
The FTD also highlighted concerns in Germany that Constancio is
partial to the interests southern Europe countries.
— Frankfurt bureau: +49 69 720 142; email: frankfurt@mni-news.com —
[TOPICS: MT$$$$,M$$CR$,M$X$$$,M$$EC$]
