France’s opposition to Margrethe Vestager’s choose of an American citizen as chief competitors economist may hurt her possibilities of getting the subsequent job she’s eyeing.
Vestager, who’s the European Commission govt vice chairman, is Denmark’s nominee to steer the European Investment Bank when Werner Hoyer’s mandate ends this yr. She had been thought of the front-runner.
But after Paris successfully led the cost in opposition to the appointment of Fiona Scott Morton to the position at DG COMP, the Commission’s division accountable for antitrust enforcement, Vestager is now unsure to get French assist for the EIB.
Vestager’s bid is just not useless in the water, a number of French officers mentioned, however many elements will likely be considered. One of them is how a lot a Vestager-led EIB would think about French pursuits, together with a request by President Emmanuel Macron for the physique to fund nuclear power, and a push for it to take a position extra in protection.
Another issue is who Vestager is up in opposition to. Other contenders for the EIB position embrace Daniele Franco, a former Italian finance minister, and Teresa Czerwińska, EIB vice chairman for Poland. Spanish Finance Minister Nadia Calviño has indicated Madrid will recommend a reputation “in due course.”
With Spain heading to the polls on Sunday, and the Socialist-led authorities’s possibilities of staying in energy looking poor, it’s unclear if and when Madrid will have the ability to nominate somebody.
Even if the Socialists handle to remain in energy, whether or not Calviño would run for the job herself — one thing that she’s by no means explicitly excluded — or would favor different choices, corresponding to to grow to be Spain’s subsequent EU commissioner, stays to be seen.
If Calviño did go for the EIB, she would wish to collect assist in Paris, Berlin, and Rome. For that, Italy would wish to withdraw Franco’s bid, nevertheless it’s unclear why it could accomplish that ― or what it could ask for in return.
“France is ready to see a subject of potential candidates” after the Spanish election to determine whom to again, mentioned a senior French authorities supply, who was granted anonymity.
Either manner, Vestager’s bid hangs on the Spanish election a minimum of as a lot as on her personal {qualifications} and powers of persuasion.
The objective is to agree on a reputation by consensus at an off-the-cuff gathering of finance ministers in Santiago de Compostela, Spain, in mid-September.
Clea Caulcutt and Nicholas Vinocur contributed reporting.
