Spain set to get ECB vice presidency after Eurozone ministers back Luis de Guindos

Finance ministers from euro currency countries on Monday endorsed Spanish Economy Minister Luis de Guindos (pictured) to become the next European Central Bank (EC) vice president.

The move came hours after Ireland withdrew its candidate, Irish Central Bank chief Philip Lane,and could pave the way for a German to become ECB President in 2019.

Read more: ECB's Mario Draghi worried about euro strength

What happened:

Irish Finance Minister Paschal Donohoe announced his country would pull Lane's candidacy, saying it was important for Eurozone finance ministers to agree on who gets the job by consensus.

De Guindos — who had been the favorite to replace Portuguese ECB Vice President Vitor Constancio — was left as the only candidate as a meeting of Eurozone finance ministers began in Brussels.

The ministers' endorsement set the stage for EU leaders to formally appoint De Guindos at a March 22-23 summit.

What were the responses?

French Finance Minister Bruno Le Maire said de Guindos "has all the skills to be a very good vice president."

Acting German Finance Minister Peter Altmaier said he was "an excellent choice."

EU Economy Commissioner Pierre Moscovici said de Guindos was "an excellent colleague over several years," adding that "he can adapt and be a good vice president."

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