Spain Faces Appointment Delay for Central Bank Governor Ahead of ECB Meeting

Spain's Economy Minister Carlos Cuerpo stated that a new central bank governor may not be appointed in time for the ECB monetary policy meeting on July 18. If unresolved, Deputy Governor Margarita Delgado, without voting rights, will attend. Talks with the opposition People's Party are ongoing.

Spain's Economy Minister Carlos Cuerpo announced on Thursday that the appointment of a new central bank governor may not occur in time for the upcoming European Central Bank (ECB) monetary policy meeting on July 18.

In the absence of a decision, Deputy Governor Margarita Delgado, who lacks voting rights, will represent Spain at the meeting, Cuerpo told reporters. Last month, he had indicated that a newly appointed governor would attend the July session.

The Spanish government is in negotiations with the opposition conservative People's Party (PP) to appoint both a governor and a deputy governor. These talks are part of broader discussions that include the appointment of key state positions, such as the heads of the anti-trust watchdog and the stock market supervisor. An agreement was reached regarding the judicial system's governing body two weeks ago.

Cuerpo declined to disclose the progress of the talks or the names of potential candidates. The term of the previous central bank chief, Pablo Hernandez de Cos, expired last month, while Delgado's term ends in September.