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Spain targeting seat on ECB's executive board next year: economy minister

Reuters

MADRID (Reuters) - Spain's Economy Minister said on Monday he was "convinced" that Spain would have a seat on the European Central Bank's six-person executive board next year.

"It will be an absolute priority for the Spanish government," Luis de Guindos said in a speech in Madrid.

The next vacancy on the ECB's executive board opens at the end of May in 2018, when the term of vice president Vitor Constancio, a former Portuguese finance minister, expires.

The next vacancies will then come up in 2019, when the terms of three board members, including President Mario Draghi, expire.

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Guindos also said on Monday that the government wanted to continue selling "small parts" of Spanish lender Bankia <BKIA.MC>, in which it owns a 65.5 stake, over an adequate time frame to maximize return.

(Reporting by Sarah White; Writing by Angus Berwick; Editing by Amanda Calvo)