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Re: [Eurasia] SPAIN/ECON - Spain's likely new gov't seeks crisis manager for economy

Released on 2012-04-01 08:00 GMT

Email-ID 187311
Date 2011-11-10 17:54:32
patsy and technocrats are two different things (and yes there can be

a patsy is someone to take the fall

a technocrat is to get shit done that needs to be done

but yes


From: "Michael Wilson"
To: "Analyst List"
Sent: Thursday, November 10, 2011 10:17:21 AM
Subject: Re: [Eurasia] SPAIN/ECON - Spain's likely new gov't seeks
crisis manager for economy

to be less flippant

EU officials know how unpopular what they have to do is. The public does
not want to do what is needed to be done. The elites can't do what the
public wants them to do though, because that threatens their interests

So they look for technocrats (or as Peter calls them patsy's) to implement
what needs to be done so that hopefully they can avoid some of the blame

On 11/10/11 9:39 AM, Michael Wilson wrote:

Seems like we are seeing the rise of the technocrats

On 11/10/11 9:02 AM, Benjamin Preisler wrote:

Spain's likely new gov't seeks crisis manager for economy

MADRID Nov 10 (Reuters) - Centre-right opposition leader Mariano
Rajoy, poised to win Spain's Nov. 20 parliamentary election, is
seeking an internationally respected figure for economy minister to
win over nervous investors in the deepening euro zone crisis.

Analysts and insiders from Rajoy's People's Party (PP) say he wants a
manager with clout and experience, but not necessarily someone from
within the party.

The PP could separate the Economy Ministry into two, with one for
economy and one for finance, as it was under the last centre-right

Rajoy, expected to oust the Socialists who have been in power for more
than seven years, will implement drastic spending cuts and economic
reforms that could revive production in the medium term but will push
the economy into recession next year.

Following are some of the names most frequently mentioned for Economy
Minister by political and financial sources:

Luis de Guindos (51)

De Guindos is director of the respected Spanish business school
Instituto de Empresa and an independent board member of the energy
group Endesa. He is said to speak with Rajoy frequently.

He served as economy secretary -- a high-ranking position reporting to
the Economy Minister -- under the previous conservative Prime Minister
Jose Maria Aznar from 2002 to 2004. He also held other key positions
within the ministry from 1996.

De Guindos was chief executive of Lehman Brothers Spain and Portugal
2006-2008, and later responsible for the financial division of

Cristobal Montoro (61)

Montoro heads the People's Party economic team and acts as a kind of
shadow economy minister. He sits in the European Parliament for the
PP, as well as in the lower house of parliament in Spain.

Montoro was economy secretary, also under Aznar, from 1996 to 2000 and
then finance minister from 2000 to 2004.

Some political pundits are doubtful Montoro has the international
clout to make the position of economy minister in the current climate,
though his place close to Rajoy is likely to guarantee some important
post within the economic team.

Josep Pique (56)

A Catalan businessman and politician, Josep Pique is chairman of the
Spanish airline Vueling and president of the influential
Barcelona-based think tank Circulo de Economia.

He served in the PP government from 1996 to 2003 first as industry
minister, then government spokesman and later foreign minister and
minister of science.

From 2003 to 2007, Pique headed the PP in Catalonia, a region where
the party has traditionally been weak.

Fernando Becker (56)

Head of corporate resources at the Spanish energy group Iberdrola,
Becker holds a doctorate in economics.

He was previously the president of the state lender, the Official
Credit Institute, under the Aznar government and up until 1999.

He also served as an economics advisor to the regional government of
Castilla y Leon.

Becker is said to be close to the conservative think tank FAES, which
is presided over by Aznar. And he attended college with Rajoy.

Francisco Gonzalez (67)

Gonzalez has been chairman and chief executive of Spain's second
largest bank BBVA since 2000. He is the vice-chairman of the Institute
of International Finance (IIF) and sits on the International advisory
committee of the Federal Reserve Bank of New York.

Although Gonzalez speaks frequently with Rajoy and has
well-established ties to the PP, he is not seen as likely to jump at a
political position.


Benjamin Preisler
Watch Officer
+216 22 73 23 19

Michael Wilson
Director of Watch Officer Group
221 W. 6th Street, Suite 400
Austin, TX 78701
T: +1 512 744 4300 ex 4112

Michael Wilson
Director of Watch Officer Group
221 W. 6th Street, Suite 400
Austin, TX 78701
T: +1 512 744 4300 ex 4112