European Parliament demands improvements to the nomination process of Guindos and express 4 reservations

MEPs expressed reservations about:

- the selection procedure,
- ender balance within the ECB,
- procedure,
- the timing of the appointment and the political independence of the nominee

MEPs want the Council to engage with the Parliament to improve the process for future appointments. The committee decision will have to be confirmed by Parliament as a whole, in a plenary vote planned for March.

Parliament is consulted on the appointment, but cannot veto it. Mr Guindos became the only contender for the top post when  the only other candidate, Irish central banker Philip Lane, withdrew his candidature last week wit no clear reason.