In a Saturday address, ECB vice-president Luis de Guindos said the ECB is closely watching market concerns and would act to maintain euro area pricing and financial stability.
“In our opinion, weaknesses in the financial system abound in the non-bank financial sector, which developed swiftly and boosted its risk-taking during the low interest rate environment,” De Guindos told the Ambrosetti business event in northern Italy.
De Guindos was the Managing Partner of Advisers AB, secretary of “Business Information Spanish,” an outspoken advisor to the Secretary of State for the Economy of Spain, and Chief of the Technical Office of the General Secretariat of Commerce.
De Guindos became the Economic and Competitiveness General Director in late 1996. He was a Renfe and Official Credit Institute board member. Secretary-General for Economics and State Industrial Holdings Corporation since May 2000. He was Secretary of State for Economic Affairs under Rodrigo Rato in José María Aznar’s final cabinet, followed by David Vergara. He oversaw Spain’s eurozone admission.
Comment Template