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Luis de Guindos, the current Spanish economy minister, is the only candidate for the post of vice-president of the European Central Bank.Picture credit: EU2017EE Estonian Presidency 

Vítor Constâncio, the current vice-president from Portugal, will leave his post on 31 May.

De Guindos, from the Partido Popular, must first be formally appointed by the European Council on 22 and 23 March.

This would leave the door open to a more hawkish ECB president and less expansive monetary policies. Mario Draghi, the current Italian ECB president, is not eligible again and will leave in late 2019.