ECONOMIST and civil servant Carlos Cuerpo has been sworn in as Spain’s new financial system and commerce minister by King Felipe at a ceremony on Friday.
He replaces Nadia Calviño who was appointed as head of the European Funding Financial institution this month, with Pedro Sanchez asserting Cuerpo’s new job earlier than accompanying him to the Zarzuela Palace.
Cuerpo, 43, mentioned that he would comply with the identical insurance policies as his predecessor and made made a dedication to enhancing the lives of younger folks.
“We are able to’t afford to fail,” he added.
Sanchez additionally promoted funds minister Maria Jesus Montero to be his first deputy prime minister, taking up from Calviño.
As quantity two, Montero’s appointment is considered as an try by Sanchez to encompass himself with loyalists the place his coalition with Sumar doesn’t give them an total majority in Congress.
Most eyes although are on Cuerpo’s new job- a senior civil servant since 2008. who has performed a key function in discussions on the European Union’s new bundle of fiscal guidelines and serving as negotiator for Spain’s rotating presidency of the bloc this 12 months.
He pledged to cut back Spain’s debt and deficit to make sure “we proceed to benefit from the confidence of traders”.
“The EU’s fiscal guidelines will take precedence within the coming years,” he mentioned.
Cuerpo may also oversee the implementation of the €120 billion European restoration plan in Spain and handle the impression of the phasing out of anti-inflationary measures.
He has a PhD in economics from the Autonomous College of Madrid and a Grasp’s diploma in economics from the London College of Economics and Political Science.
