Commissioner Valdis Dombrovskis, in a written answer on 27 July 2026, pushed back against calls for EU-wide cooling-off periods for national central bank governors, arguing that the Treaties leave appointment conditions to Member States as long as independence safeguards are in place post-appointment. The answer, which avoids concrete proposals for new rules, will reassure national governments wary of EU encroachment on their appointment powers but may disappoint MEPs and transparency advocates concerned about partisan capture.
The answer responds to a parliamentary question from Alvise Pérez (NI), who raised the case of José Luis Escrivá, appointed Governor of the Bank of Spain in 2024 immediately after serving as a minister. Pérez questioned whether the lack of a cooling-off period undermines Article 130 TFEU, which requires central bank independence from government influence. Dombrovskis noted that the Treaty does not specify appointment requirements, leaving Member States competent to set conditions as long as the legal framework ensures the governor can act independently once in office. The Commission will continue to monitor whether governors exercise their mandate free from political influence, but did not commit to requesting information from Spain or assessing EU-wide minimum standards on cooling-off periods, transparency, or conflicts of interest.
The answer signals a restrained approach from the Commission, prioritising Member State competence over harmonisation. No legislative follow-up is expected; the Commission will rely on existing Treaty monitoring. The stance favours national sovereignty and flexibility in appointments, but may leave gaps in perceived independence, particularly in cases of rapid political-to-central-bank transitions. Stakeholders most impacted include national governments (which retain appointment freedom), the European Central Bank (which must work with governors whose independence may be questioned), MEPs pushing for stronger safeguards, and civil society groups focused on institutional integrity.