Portugal’s bank chief leads ECB deputy race

Vítor Constâncio, Portugal’s central bank governor, was expected to be nominated as the next European Central Bank vice-president, February 2010, in a move that could have a significant bearing on the choice of the Frankfurt-based institution’s future head.

His nomination was seen as a boost to the chances of Axel Weber, Germany’s Bundesbank President, taking over from Jean-Claude Trichet when the ECB president steps down in November 2011.

ESO: Background information: Berlin pushes Weber for top job at ECB http://www.europeansources.info/record/berlin-pushes-weber-for-top-job-at-ecb/

EurActiv, 16.2.10: Portugal wins coveted ECB seat http://www.euractiv.com/en/financial-services/portugal-wins-coveted-ecb-seat

Council of the European Union: Press Release: PRES/10/32: Council recommends the nomination of Vítor Constâncio as vice-president of the European Central Bank http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ecofin/112906.pdf

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