The battle for the leadership of the European Investment Bank is just beginning.

Nadia Calviño au G20 à New Delhi (Inde), le 9 septembre 2023.

Margrethe Vestager is not one to give up easily. In recent days, the former Danish Minister of Economy, who gained recognition for her fight against tax evasion by Silicon Valley giants, has put all her energy into becoming the President of the European Investment Bank (EIB), the financial arm of the Union. While on leave from her position as Vice President of the Commission, responsible for competition issues, she has intensified her campaign and made numerous media and political interventions.

Son sort pourrait être scellé à Saint-Jacques-de-Compostelle, lors d’une réunion des ministres des finances européens qui se tient les 15 et 16 septembre. MmeVestager is aware that time is running out for her, as the current title holder, German Werner Hoyer, is set to leave his position at the end of the year, and she is not the favorite. Spanish contender Nadia Calviño is in a better position in the race.

L’Italien Daniele Franco, ex-ministre des finances de Mario Draghi, est également sur les rangs. Tout comme deux vice-présidents de la BEI : la Polonaise Teresa Czerwinska et le Suédois Thomas Ostros. Mais, sauf surprise, qui redonnerait ses chances au candidat de Rome, ces trois prétendants font aujourd’hui figure d’outsiders.

Orthodoxie budgétaire

The winner must have obtained the support of at least eighteen member states, which hold at least 68% of the capital of the EIB. This gives significant weight to its four largest shareholders, Germany (26% of the capital), France (20%), Italy (17%), and Spain (12%).

adrid et Pedro Sanchez sont en Calviño. Berlin aussi, après avoir, un temps, penché du côté de Mme Vestager, une libérale comme le ministre des finances Christian Lindner, membre du Parti libéral-démocrate. Mais le chancelier social-démocrate Olaf Scholz tenait à la nomination d’une personnalité de son camp. Par ailleurs, l’Allemagne, chantre d’une certaine orthodoxie budgétaire, « préfère un profil techno à ce poste et Calviño [qui a occupé plusieurs postes de direction générale à la Commission] est plus techno, moins politique que Vestager », confie une source européenne.

Finally, Mr. Scholz saw the opportunity to place one of his own in charge of the supervisory body of the European Central Bank, even though the position was supposed to go to the Deputy Governor of the Bank of Spain, Margarita Delgado. Now, the Vice President of the Bundesbank, Claudia Buch, has the advantage in the race for the leadership of the European banking regulator, clearing the way for Nadia Calviño at the BEI.

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