When he assumed the vice presidency in 2018, Luis de Guindos (Madrid, 66 years previous) was dealing with what appeared like probably the most boring mandate within the historical past of the European Central Bank (ECB). “I thought that we were not going to move the types, neither up nor down, they had been immobile for a long time and I thought it would continue that way,” he remembers now. In these eight years in workplace, nevertheless, the world suffered from the pandemic and the self-induced coma of the worldwide financial system; the worst inflationary escalation in 40 years, adopted by an abrupt rise within the value of cash; the Russian invasion of Ukraine, the commerce shocks by the United States and, now, the vitality shock derived from the battle within the Middle East.
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https://elpais.com/economia/2026-05-03/luis-de-guindos-fui-mas-halcon-ahora-estoy-mas-en-el-lado-de-la-prudencia.html