European Union finance ministers on Thursday selected Spanish academic Jose Manuel Gonzalez-Paramo for a top European Central Bank post but delayed the second thorny issue of naming a possible IMF head.
Deeply divided ministers had to resort to a show of hands to force through the decision over which of three candidates they thought fit to fill an opening at the ECB's Executive Board with big countries winning the day at a meeting alongside an EU summit of government leaders in Brussels.
While ministers did not start talks on a European candidate for the International Monetary Fund, as this would delay the ECB decision by too much, no one came up with a name other than Spain's outgoing Finance Minister Rodrigo Rato.
However, Rato may not find his way into the world's financial fire-fighter without obstacles, as Italy also said it was interested in securing the top posting.
"Yes, we have in our mind one candidate but since I haven't yet discussed it in the (Italian parliamentary majority) let me keep it secret," Italian Prime Minister Silvio Berlusconi told reporters at a meeting of EU government leaders.
Asked whether the candidate he had in mind was Italian or another European nationality, Berlusconi said: "We have one excellent Italian candidate."
A senior EU source said that one of the names being considered by Berlusconi for the IMF job was EU Competition Commissioner Mario Monti, 61, whose Commission term expires at the end of October.
In the run-up to the decisions, EU diplomats had said that Spain would be lucky to secure both key financial jobs. Rato so far has been the only name put forward for the IMF, though France reportedly wants EBRD head Jean Lemierre in the seat.
Still, Spain has won a first battle, supported by other big countries that want permanent seats at the ECB's six-strong board, which together with 12 central bank heads sets euro zone interest rates.
The decision to replace outgoing Eugenio Domingo Solans, who steps down from the ECB's board on May 31, by another Spaniard followed a fierce discussion as Belgium and Ireland also had put in a bid. Both have not been represented at the board yet.
"It is an excellent candidate. I have met him, he's very good," Dutch Finance Minister Gerrit Zalm told Reuters. But asked whether it had been an easy decision, he added:
"No, it took a while. The Belgian candidate was very good too. But I'm happy (with the outcome)," he added.
Several countries backed Belgian central banker Peter Praet - earlier seen as a frontrunner in the race. But as it became clear Belgium would not be able to garner enough support in a qualified majority vote which gives big countries a bigger say, the ministers decided for Gonzalez-Paramo.
"The eurogroup was split in half, with each half backing a candidate," Belgian Finance Minister Didier Reynders said.
"A qualified majority appeared in favour of the Spanish candidate. We did not want to spend three nights to change this tendency," he added.