(Bloomberg) -- Spanish Economy Minister Carlos Cuerpo said the government has no urgency to name a new central bank governor.
The executive is working on picking a new chief and has until Sept. 11 to do so, Cuerpo said. Whoever is elected will be a professional and the independence of the Bank of Spain is ensured, the minister said.
The government is trying to negotiate the appointment of the governor and deputy governor with the opposition People’s Party, in line with a Spanish political tradition. Still, the administration has the power to make the appointments even if it fails to reach an agreement.
Cuerpo was expected to announce the new appointment on July 11 but scrapped the plan after talks with the PP failed. Subsequently, news leaked that Prime Minister Pedro Sanchez may be considering Digital Transformation Minister Jose Luis Escriva for the job.
The role has been vacant since Pablo Hernandez de Cos’s term ended in June. The governor sits on the European Central Bank’s Governing Council, which sets interest rates in the euro area.
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