That Margarita Delgado, the current deputy governor of the Bank of Spain, is the most qualified candidate to preside over the Supervisory Board of the European Central Bank (ECB), is a practically unanimous opinion. The woman from Madrid is a person with extensive regulatory experience, in the Bank of Spain and in Europe she was general director of what would end up being the single supervisory mechanism and the Supervisory Board that she now aspires to preside over, in addition to already currently holding a position therein on behalf of the Bank of Spain. That is the big difference with her rival in this race, the German Claudia Buch, an economist, attached to the president of the German Bundesbank with no experience in the matter being dealt with in the current appointment, who even made some major errors in one interview in the Financial Times.
For this reason, among other things, the Spanish woman left the European Parliament's economics committee as its candidate. They gave him absolute support for the election, which she communicated to the president of the ECB, Christine Lagarde, in a document that has not been made public.
The latter, however, does not seem to hide its preference towards the German, as is known in Brussels, Frankfurt, Berlin and Madrid. Some attribute this to personal closeness, since Buch informally attends the ECB's councils accompanying his boss Joachim Nagel.
This attitude is also attributed to the many elements that always fly over and interfere with the election of high positions in the European Union and the euro institutions.
From the quotas of the countries in high European bodies (in this case the need to compensate Germany); the alleged excess of Spanish representation within the ECB; or Lagarde's own calculations about his future political career. Also, the inconvenience that mid-career Nadia Calviño announced her candidacy for the European Investment Bank (EIB).
But it must be kept in mind that the supervision of the large banking entities in the eurozone, the systemic ones, is an issue important enough for the economy and citizens' pockets to require technical solvency for positions such as the one Delgado aspires to obtain. be the preferred and determining criterion.
