Spanish finance minister Luis de Guindos is the overwhelming favourite to succeed Vítor Constâncio as vice-president of the European Central Bank.  

The Eurogroup, the meeting of finance ministers of the member states of the eurozone, started to discuss potential candidates on January 22. During the initial deliberations, de Guindos was the only candidate considered, according to people familiar with the matter.

European Union governments still have until February 7 to present their candidates