November 30, 2011 / 2:53 PM / in 7 years

Germany nominates Europe expert to head EIB

BERLIN (Reuters) - Germany said on Wednesday it had nominated a senior foreign ministry official to head the European Investment Bank, widening the race to run the bank for a six-year term to at least two candidates.

Werner Hoyer, from Germany’s pro-business FDP party, is a state secretary in the foreign ministry with a background in economics.

“With Dr Hoyer, Germany has nominated an internationally- acknowledged, highly-regarded European political expert with years of experience on the economy, monetary policy and international economic relations,” a government spokesman told a regular news conference.

Spain’s Magdalena Alvarez Arza, one of the EIB’s eight vice-presidents, is also in the running to head the Luxembourg-based bank, which acts as the European Union’s financing arm.

Current EIB president Philippe Maystadt, a Belgian, has been in his job since 2000.

Reporting by Sylvia Westall

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