European Finance Ministers met this Friday in Santiago de Compostela, Spain, for an informal meeting in which they will discuss the next President of the European Investment Bank (EIB).
Belgian Finance Minister Vincent Van Peteghem is expected to play a crucial role with Belgium taking over the Presidency of the Council of the European Union in January. This will see Van Peteghem chair every meeting with his European counterparts.
The meeting in Santiago de Compostela will be presided over by Spanish Finance Minister Nadia Calvino but Van Peteghem will already be trying to make headway in the search for a successor to Germany's Werner Hoyer at the head of the EIB.
"I don't think we should force the process [of choosing an EIB President] now," Van Peteghem said upon his arrival in Spain. "We are in a phase of informal consultations to find a consensual solution. But we're not there yet."
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Five people are currently in the running for the position. Two of them stand out as favourites: former European Commission Vice-President Margrethe Vestager and Calvino herself.
The successful candidate will need to secure the approval of at least 18 of the 27 EU Member States.
