Fernandez Ordoez nominated as Bank of Spain chief

Spain's finance minister, Pedro Solbes, proposed Miguel Angel Fernandez Ordonez as the new governor of the Bank of Spain on Wednesday 28 June.

Ordoez would take over from Jaime Caruana when Caruana's six-year term ends on 11 July, Solbes said at a committee meeting in Parliament in Madrid. The appointment requires confirmation by King Juan Carlos.

"He's not a member of the central banker's club, so at the start he will listen," Alfredo Pastor, a professor of economics at IESE Business School in

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