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Luis de Guindos

In this Spanish name, the first or paternal surname is de Guindos and the second or maternal family name is Jurado.

Luis de Guindos Jurado (born 16 January 1960) is a Spanish politician who currently serves as the Vice President of the European Central Bank. He was the Minister of Economy, Industry and Competitiveness of Spain between 2011 and 2018.

Luis de Guindos
Vice President of the European Central Bank
Assumed office
1 June 2018
PresidentMario Draghi
Christine Lagarde
Preceded byVítor Constâncio
Minister of Economy, Industry and Competitiveness
In office
21 December 2011 – 7 March 2018
Prime MinisterMariano Rajoy
Preceded byElena Salgado(Economy and Finance)
Succeeded byRomán Escolano
Minister of Industry, Energy and Tourism
Acting
In office
16 April 2016 – 4 November 2016
Prime MinisterMariano Rajoy
Preceded byJose Manuel Soria
Succeeded byÁlvaro Nadal
Personal details
Born (1960-01-16)16 January 1960 (age 61)
Madrid, Spain
Political partyPeople's Party
EducationUniversity College of Financial Studies

Contents

De Guindos was born in Madrid, Spain, on 16 January 1960. He is a Bachelor of Economics and Business at the Colegio Universitario de Estudios Financieros.

Career

De Guindos was once the Managing Partner of Advisors AB, secretary of the magazine "Business Information Spanish", and vocal advisor to the Secretary of State for Economy of Spain and Head of Technical Office of the General Secretariat of Commerce.

In late 1996, de Guindos was appointed General Director for Economic and Competitiveness. He has served on the board of Renfe between 1997 and 2000 and the Official Credit Institute from 2000 to 2002. In May 2000 was appointed Secretary in General for Economy, and State Industrial Holdings Company. He was Secretary of State for Economic Affairs under Minister for Economic Affairs Rodrigo Rato in the last government led by José María Aznar and was succeeded by David Vegara. In this capacity, he was in charge of overseeing Spain's entry into the eurozone.

Private sector, 2004–2011

In 2006, de Guindos was appointed advisor for Lehman Brothers in Europe and director of its subsidiary bank in Spain and Portugal, where he remained until the collapse and declaration of bankruptcy of the latter in 2008. Subsequently, de Guindos became responsible for the finance division of Pricewaterhouse Coopers. Finally, and in a largely ceremonial role, he was appointed as a professor of finance at the PwC and IE Financial Sector Center of IE Business School (Madrid), between 2010–2012, before joining as a minister. He was also a board member of Endesa SA, a Spanish power company.

From 2011, de Guindos worked for the board of Mare Nostrum Bank, which was formed in 2010 from a merger of savings banks, until he resigned to become part of the Rajoy government led by Mariano Rajoy in December of that year.

Minister of Economy and Competitiveness, 2011–2018

De Guindos has served as economy minister in Rajoy's centre-right government since it took office in December 2011 and is credited with steering Spain to economic recovery following the euro zone's 2009–2014 crisis. He played a crucial role in negotiating the European Union's €100 billion bailout of Spain's stricken savings banks, and in spearheading the country's overhaul of the banking sector, labour market and other parts of the economy. His implementation of a program of both structural reforms and austerity measures has earned praise from Spain's European partners and the Organisation for Economic Co-operation and Development (OECD), which estimated that no country other than Greece had implemented more structural reforms than Spain.

In 2012, de Guindos and Rajoy initially blocked the appointment of Yves Mersch to succeed José Manuel González Paramo as member of the Executive Board of the European Central Bank, instead putting forward ECB General Counsel Antonio Sáinz de Vicuña y Barroso for the role. At the time, analysts said that if Spain had nominated de Guindo's predecessor Elena Salgado for the board, she would have been a shoo-in instead of Mersch who was ultimately elected.

In January 2014, de Guindos was elected co-chair (alongside Anders Borg, later Valdis Dombrovskis) of the EPP Economic and Financial Affairs Ministers Meeting, which gathers the center-right European People's Party (EPP) ministers ahead of meetings of the Economic and Financial Affairs Council (ECOFIN. In August 2014, German Chancellor Angela Merkel, who also belongs to the EPP political bloc, gave him her backing in his bid to succeed Jeroen Dijsselbloem as leading the Eurogroup from mid-2015; Securing the Eurogroup post for de Guindos was a key political goal for Rajoy, who hoped that his appointment will cement perceptions both at home and abroad that Spain has emerged from crisis and can be taken seriously once again at international level. Meanwhile, on 5 June 2015, Dijsselbloem announced he would seek a second term, prompting de Guindos saying he would mount a challenge. At a Eurogroup meeting in July 2015, Dijsselbloem picked up 10 votes, with the remaining countries subsequently deciding to vote unanimously for his second term.

In late 2015, de Guindos announced that Spain would have a budget deficit of less than 3 percent of GDP by 2016. However, after the country missed its 2015 public deficit target of 4.2 percent during months of fruitless coalition talks following inconclusive national elections, Rajoy and de Guindos signaled they were open to asking the European Commission for flexibility on the target. When the Commission eventually began formal disciplinary procedures against Spain and Portugal in 2016 for their excessive deficits in 2014 and 2015, de Guindos publicly promised that Spain would escape any sanctions from the European Union.

When Spain's acting Industry Minister José Manuel Soria resigned in April 2016 following allegations of links to offshore dealings which emerged after he was named in the Panama Papers, de Guindos took on Soria's brief alongside his current responsibilities. De Guindos continued to be in charge of the newly expanded portfolio in the second Rajoy Government from November 2016 on.

In 2017, de Guindos was widely seen as a natural successor to replace Jeroen Dijsselbloem as next chairman of the Eurogroup but he ruled himself out early in favour of an expected candidacy to become Vice-President of the European Central Bank. After Ireland withdrew the candidacy of Philip Lane in February 2018, German Finance Minister Peter Altmaier was one of the first among his peers to openly endorse de Guindos.

In March 2018, De Guindos finally left his position as Minister and Román Escolano replaced him. On 14 March 2018, a majority of the European Parliament endorsed him as new ECB Vice-President.

European Union organizations

International organizations

Research organizations

  • ELCANO – Royal Institute for International and Strategic Studies, Member of the Board of Trustees

De Guindos, who is married with two children, is a practicing Roman Catholic. In September 2014, he attended the beatification of one of the leaders of the conservative Opus Dei movement. Yet in the press he has said he supports the right of gay people to marry and did not support the government's 2014 proposal to outlaw abortion.

During his second term in office, de Guindos rejected a potential bailout of troubled Banco Popular with public money.

  1. John Fraher and Angeline Benoit (April 27, 2012). "Spain Rules Out Bailout as De Guindos Says Banks Funded". Bloomberg. RetrievedJune 10, 2012.
  2. "Ministerio de Economia Luis de Guindos presenta el cuadro macroeconómico que prevé un crecimiento del 3% para 2004"(PDF). Ministry of Economy and Finance (Spain). RetrievedJune 10, 2012.
  3. Daniel Woolls and Sarah DiLorenzo (June 9, 2012). "Europe bailout of Spain could cost $125 billion". The Washington Times. RetrievedJune 10, 2012.
  4. Empresa (EOC) insider: Luis Jurado Retrieved June 10, 2012
  5. Nicholas Hirst (October 2, 2014), Luis de Guindos: reform champion European Voice.
  6. "Spain names ex-Lehman executive as economy minister". BBC News. BBC. December 21, 2011. RetrievedJune 10, 2012.
  7. "Spain's new Prime Minister Mariano Rajoy has named ex-Lehman Brothers banker Luis de Guindos in the pivotal job as economy minister". RTÉ News. RTÉ. December 21, 2011. RetrievedJune 10, 2012.
  8. "Luis de Guindos deja Pricewaterhouse y pasa al Instituto de Empresa". El Pais (in Spanish). Madrid: Prisa. February 2, 2010. RetrievedJune 10, 2012.
  9. Ross-Thomas, Emma; Penty, Charles (December 22, 2011). "Lehman Banker, Budget Expert Picked to Steer Spain's Economy". Bloomberg Business. Bloomberg L.P. Retrieved3 May 2019.
  10. "Commercial Banks: Company Overview of Banco Mare Nostrum, S.A." Businessweek. 18 January 2013. Archived from the original on 18 January 2013. RetrievedJune 10, 2012.
  11. Robin Emmott (April 25, 2015), Spain to bid for euro zone chair in challenge to Dijsselbloem Reuters.
  12. Tobias Buck and Peter Spiegel (June 9, 2015), De Guindos fights for eurogroup job, with Spanish pride at stake Financial Times.
  13. Nicholas Hirst (October 2, 2014), Luis de Guindos: reform champion European Voice.
  14. Andrew Gardner (November 22, 2013), Mersch appointed to ECB European Voice.
  15. Claire Davenport (November 5, 2012), Spain opposes appointment of Yves Mersch to ECB Reuters.
  16. Council of the EU and Ministerial meetings European People’s Party (EPP).
  17. Spain: Luis de Guindos appointed Co-Chairman of the EPP Ecofin Ministers group European People’s Party (EPP), press release of 28 January 2014.
  18. Merkel backs Spain economy minister to lead Eurogroup RTÉ News and Current Affairs, August 25, 2014.
  19. Tobias Buck and Peter Spiegel (August 25, 2014), Angela Merkel backs Luis de Guindos to chair eurozone finance ministers’ group Financial Times.
  20. Toby Sterling (June 5, 2015), Netherlands' Dijsselbloem seeks second term as Eurogroup president Reuters.
  21. Zeke Turner (July 13, 2015), Dijsselbloem secures second term Politico Europe.
  22. Gernot Heller (September 1, 2015), Spain is best example that Europe is doing things right: Schaeuble Reuters.
  23. Rodrigo de Miguel and Sarah White (February 12, 2016), Spain likely missed deficit goal in 2015: economy minister Reuters.
  24. Jesus Aguado (July 7, 2016), Spain says will escape EU deficit sanction, set new fiscal path Reuters.
  25. Paul Day (April 15, 2016), Spanish minister resigns after links to offshore deals alleged Reuters.
  26. Adrian Croft and Jesús Aguado (November 4, 2016), Cabinet reshaped by Spain's Rajoy draws strong opposition criticism Reuters.
  27. Mehreen Khan (December 5, 2017), The Eurogroup’s revolution is on hold Financial Times.
  28. Maria Tadeo and Carolynn Look (February 19, 2018), Spain Secures ECB for Guindos After Long Campaign to Regain Seat Bloomberg News.
  29. http://www.europarl.europa.eu: Parliament endorses Luis de Guindos as new ECB Vice-President
  30. Members European Systemic Risk Board (ESRB).
  31. Board of Governors European Investment Bank (EIB).
  32. Board of Governors: Luis de Guindos European Stability Mechanism.
  33. AfDB Annual Report 2017 African Development Bank (AfDB).
  34. Board of Governors Central American Bank for Economic Integration (CABEI).
  35. Board of Governors European Bank for Reconstruction and Development (EBRD).
  36. Board of Governors International Monetary Fund (IMF).
  37. Board of Governors Multilateral Investment Guarantee Agency (MIGA), World Bank Group.
  38. Board of Governors World Bank.
  39. Board of Trustees ELCANO – Royal Institute for International and Strategic Studies.
  40. Hirst, Nicholas (October 2, 2014). "Luis de Guindos: reform champion". European Voice. Retrieved3 May 2019.
  41. González, Andrés; Aguado, Jesús (May 19, 2017). "Santander or Bankia viewed as likely saviors for Spain's Popular". Reuters. Madrid. Retrieved3 May 2019.
Political offices
Preceded by
Elena Salgado
as Minister of Economy and Finance
Minister of Economy and Competitiveness
2011–2018
Succeeded by
Román Escolano
Government offices
Preceded by
Vítor Constâncio
Vice President of the European Central Bank
2018–present
Incumbent

Luis de Guindos
luis, guindos, language, watch, edit, this, spanish, name, first, paternal, surname, guindos, second, maternal, family, name, jurado, jurado, born, january, 1960, spanish, politician, currently, serves, vice, president, european, central, bank, minister, econo. Luis de Guindos Language Watch Edit In this Spanish name the first or paternal surname is de Guindos and the second or maternal family name is Jurado Luis de Guindos Jurado born 16 January 1960 is a Spanish politician who currently serves as the Vice President of the European Central Bank He was the Minister of Economy Industry and Competitiveness of Spain between 2011 and 2018 1 2 3 Luis de GuindosVice President of the European Central BankIncumbentAssumed office 1 June 2018PresidentMario Draghi Christine LagardePreceded byVitor ConstancioMinister of Economy Industry and CompetitivenessIn office 21 December 2011 7 March 2018Prime MinisterMariano RajoyPreceded byElena Salgado Economy and Finance Succeeded byRoman EscolanoMinister of Industry Energy and Tourism ActingIn office 16 April 2016 4 November 2016Prime MinisterMariano RajoyPreceded byJose Manuel SoriaSucceeded byAlvaro NadalPersonal detailsBorn 1960 01 16 16 January 1960 age 61 Madrid SpainPolitical partyPeople s PartyEducationUniversity College of Financial Studies Contents 1 Early life and education 1 1 Career 1 2 Private sector 2004 2011 1 3 Minister of Economy and Competitiveness 2011 2018 2 Other activities 2 1 European Union organizations 2 2 International organizations 2 3 Research organizations 3 Political positions 4 ReferencesEarly life and education EditDe Guindos was born in Madrid Spain on 16 January 1960 He is a Bachelor of Economics and Business at the Colegio Universitario de Estudios Financieros 4 Career Edit De Guindos was once the Managing Partner of Advisors AB secretary of the magazine Business Information Spanish and vocal advisor to the Secretary of State for Economy of Spain and Head of Technical Office of the General Secretariat of Commerce In late 1996 de Guindos was appointed General Director for Economic and Competitiveness He has served on the board of Renfe between 1997 and 2000 and the Official Credit Institute from 2000 to 2002 In May 2000 was appointed Secretary in General for Economy and State Industrial Holdings Company He was Secretary of State for Economic Affairs under Minister for Economic Affairs Rodrigo Rato in the last government led by Jose Maria Aznar and was succeeded by David Vegara In this capacity he was in charge of overseeing Spain s entry into the eurozone 5 Private sector 2004 2011 Edit In 2006 de Guindos was appointed advisor for Lehman Brothers in Europe 6 7 and director of its subsidiary bank in Spain and Portugal where he remained until the collapse and declaration of bankruptcy of the latter in 2008 Subsequently de Guindos became responsible for the finance division of Pricewaterhouse Coopers Finally and in a largely ceremonial role he was appointed as a professor of finance at the PwC and IE Financial Sector Center of IE Business School Madrid between 2010 2012 before joining as a minister 8 He was also a board member of Endesa SA a Spanish power company 9 From 2011 de Guindos worked for the board of Mare Nostrum Bank 10 which was formed in 2010 from a merger of savings banks until he resigned to become part of the Rajoy government led by Mariano Rajoy in December of that year Minister of Economy and Competitiveness 2011 2018 Edit De Guindos has served as economy minister in Rajoy s centre right government since it took office in December 2011 and is credited with steering Spain to economic recovery following the euro zone s 2009 2014 crisis 11 He played a crucial role in negotiating the European Union s 100 billion bailout of Spain s stricken savings banks and in spearheading the country s overhaul of the banking sector labour market and other parts of the economy 12 His implementation of a program of both structural reforms and austerity measures has earned praise from Spain s European partners and the Organisation for Economic Co operation and Development OECD which estimated that no country other than Greece had implemented more structural reforms than Spain 13 In 2012 de Guindos and Rajoy initially blocked the appointment of Yves Mersch to succeed Jose Manuel Gonzalez Paramo as member of the Executive Board of the European Central Bank instead putting forward ECB General Counsel Antonio Sainz de Vicuna y Barroso for the role 14 At the time analysts said that if Spain had nominated de Guindo s predecessor Elena Salgado for the board she would have been a shoo in instead of Mersch who was ultimately elected 15 In January 2014 de Guindos was elected co chair alongside Anders Borg later Valdis Dombrovskis of the EPP Economic and Financial Affairs Ministers Meeting which gathers the center right European People s Party EPP ministers ahead of meetings of the Economic and Financial Affairs Council ECOFIN 16 17 In August 2014 German Chancellor Angela Merkel who also belongs to the EPP political bloc gave him her backing in his bid to succeed Jeroen Dijsselbloem as leading the Eurogroup from mid 2015 18 Securing the Eurogroup post for de Guindos was a key political goal for Rajoy who hoped that his appointment will cement perceptions both at home and abroad that Spain has emerged from crisis and can be taken seriously once again at international level 19 Meanwhile on 5 June 2015 Dijsselbloem announced he would seek a second term prompting de Guindos saying he would mount a challenge 20 At a Eurogroup meeting in July 2015 Dijsselbloem picked up 10 votes with the remaining countries subsequently deciding to vote unanimously for his second term 21 In late 2015 de Guindos announced that Spain would have a budget deficit of less than 3 percent of GDP by 2016 22 However after the country missed its 2015 public deficit target of 4 2 percent during months of fruitless coalition talks following inconclusive national elections Rajoy and de Guindos signaled they were open to asking the European Commission for flexibility on the target 23 When the Commission eventually began formal disciplinary procedures against Spain and Portugal in 2016 for their excessive deficits in 2014 and 2015 de Guindos publicly promised that Spain would escape any sanctions from the European Union 24 When Spain s acting Industry Minister Jose Manuel Soria resigned in April 2016 following allegations of links to offshore dealings which emerged after he was named in the Panama Papers de Guindos took on Soria s brief alongside his current responsibilities 25 De Guindos continued to be in charge of the newly expanded portfolio in the second Rajoy Government from November 2016 on 26 In 2017 de Guindos was widely seen as a natural successor to replace Jeroen Dijsselbloem as next chairman of the Eurogroup but he ruled himself out early in favour of an expected candidacy to become Vice President of the European Central Bank 27 After Ireland withdrew the candidacy of Philip Lane in February 2018 German Finance Minister Peter Altmaier was one of the first among his peers to openly endorse de Guindos 28 In March 2018 De Guindos finally left his position as Minister and Roman Escolano replaced him On 14 March 2018 a majority of the European Parliament endorsed him as new ECB Vice President 29 Other activities EditEuropean Union organizations Edit European Systemic Risk Board ESRB Ex Officio Member 30 European Investment Bank EIB Ex Officio Member of the Board of Governors 2011 2018 31 European Stability Mechanism ESM Member of the Board of Governors 2012 2018 32 International organizations Edit African Development Bank AfDB Ex Officio Member of the Board of Governors 2011 2018 33 Asian Development Bank ADB Ex Officio Member of the Board of Governors 2011 2018 Central American Bank for Economic Integration CABEI Ex Officio Member of the Board of Governors 2011 2018 34 European Bank for Reconstruction and Development EBRD Ex Officio Member of the Board of Governors 2011 2018 35 Inter American Investment Corporation IIC Ex Officio Member of the Board of Governors 2011 2018 International Monetary Fund IMF Ex Officio Member of the Board of Governors 2011 2018 36 Multilateral Investment Guarantee Agency MIGA World Bank Group Ex Officio Member of the Board of Governors 2011 2018 37 World Bank Ex Officio Member of the Board of Governors 2011 2018 38 Research organizations Edit ELCANO Royal Institute for International and Strategic Studies Member of the Board of Trustees 39 Political positions EditDe Guindos who is married with two children is a practicing Roman Catholic In September 2014 he attended the beatification of one of the leaders of the conservative Opus Dei movement Yet in the press he has said he supports the right of gay people to marry and did not support the government s 2014 proposal to outlaw abortion 40 During his second term in office de Guindos rejected a potential bailout of troubled Banco Popular with public money 41 References Edit John Fraher and Angeline Benoit April 27 2012 Spain Rules Out Bailout as De Guindos Says Banks Funded Bloomberg Retrieved June 10 2012 Ministerio de Economia Luis de Guindos presenta el cuadro macroeconomico que preve un crecimiento del 3 para 2004 PDF Ministry of Economy and Finance Spain Retrieved June 10 2012 Daniel Woolls and Sarah DiLorenzo June 9 2012 Europe bailout of Spain could cost 125 billion The Washington Times Retrieved June 10 2012 Empresa EOC insider Luis Jurado Retrieved June 10 2012 Nicholas Hirst October 2 2014 Luis de Guindos reform champion European Voice Spain names ex Lehman executive as economy minister BBC News BBC December 21 2011 Retrieved June 10 2012 Spain s new Prime Minister Mariano Rajoy has named ex Lehman Brothers banker Luis de Guindos in the pivotal job as economy minister RTE News RTE December 21 2011 Retrieved June 10 2012 Luis de Guindos deja Pricewaterhouse y pasa al Instituto de Empresa El Pais in Spanish Madrid Prisa February 2 2010 Retrieved June 10 2012 Ross Thomas Emma Penty Charles December 22 2011 Lehman Banker Budget Expert Picked to Steer Spain s Economy Bloomberg Business Bloomberg L P Retrieved 3 May 2019 Commercial Banks Company Overview of Banco Mare Nostrum S A Businessweek 18 January 2013 Archived from the original on 18 January 2013 Retrieved June 10 2012 Robin Emmott April 25 2015 Spain to bid for euro zone chair in challenge to Dijsselbloem Reuters Tobias Buck and Peter Spiegel June 9 2015 De Guindos fights for eurogroup job with Spanish pride at stake Financial Times Nicholas Hirst October 2 2014 Luis de Guindos reform champion European Voice Andrew Gardner November 22 2013 Mersch appointed to ECB European Voice Claire Davenport November 5 2012 Spain opposes appointment of Yves Mersch to ECB Reuters Council of the EU and Ministerial meetings European People s Party EPP Spain Luis de Guindos appointed Co Chairman of the EPP Ecofin Ministers group European People s Party EPP press release of 28 January 2014 Merkel backs Spain economy minister to lead Eurogroup RTE News and Current Affairs August 25 2014 Tobias Buck and Peter Spiegel August 25 2014 Angela Merkel backs Luis de Guindos to chair eurozone finance ministers group Financial Times Toby Sterling June 5 2015 Netherlands Dijsselbloem seeks second term as Eurogroup president Reuters Zeke Turner July 13 2015 Dijsselbloem secures second term Politico Europe Gernot Heller September 1 2015 Spain is best example that Europe is doing things right Schaeuble Reuters Rodrigo de Miguel and Sarah White February 12 2016 Spain likely missed deficit goal in 2015 economy minister Reuters Jesus Aguado July 7 2016 Spain says will escape EU deficit sanction set new fiscal path Reuters Paul Day April 15 2016 Spanish minister resigns after links to offshore deals alleged Reuters Adrian Croft and Jesus Aguado November 4 2016 Cabinet reshaped by Spain s Rajoy draws strong opposition criticism Reuters Mehreen Khan December 5 2017 The Eurogroup s revolution is on hold Financial Times Maria Tadeo and Carolynn Look February 19 2018 Spain Secures ECB for Guindos After Long Campaign to Regain Seat Bloomberg News http www europarl europa eu Parliament endorses Luis de Guindos as new ECB Vice President Members European Systemic Risk Board ESRB Board of Governors European Investment Bank EIB Board of Governors Luis de Guindos European Stability Mechanism AfDB Annual Report 2017 African Development Bank AfDB Board of Governors Central American Bank for Economic Integration CABEI Board of Governors European Bank for Reconstruction and Development EBRD Board of Governors International Monetary Fund IMF Board of Governors Multilateral Investment Guarantee Agency MIGA World Bank Group Board of Governors World Bank Board of Trustees ELCANO Royal Institute for International and Strategic Studies Hirst Nicholas October 2 2014 Luis de Guindos reform champion European Voice Retrieved 3 May 2019 Gonzalez Andres Aguado Jesus May 19 2017 Santander or Bankia viewed as likely saviors for Spain s Popular Reuters Madrid Retrieved 3 May 2019 Political officesPreceded by Elena Salgado as Minister of Economy and Finance Minister of Economy and Competitiveness 2011 2018 Succeeded by Roman EscolanoGovernment officesPreceded by Vitor Constancio Vice President of the European Central Bank 2018 present IncumbentRetrieved from https en wikipedia org w index php title Luis de Guindos amp oldid 1032098626, wikipedia, wiki, book, books, library,

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