The Eurogroup gave its support to the candidacy of Luis de Guindos for the position of Vice President of the European Central Bank (ECB). The recommendation to the European Council, composed of the heads of state and government, should be formally adopted by the Council on 20 February. On this basis, the European Council will request opinions from both the European Parliament and the Governing Council of the ECB. It is then expected to adopt its final decision at its meeting of 22-23 March. The new Vice President will replace Vítor Constâncio as of 1 June 2018. He will serve a non-renewable 8-year term.
Source: ECB