VÃtor Constâncio
Vítor Manuel Ribeiro Constancio, GCIH, ( born October 12, 1943 in Lisbon ) is a Portuguese economist and politician. Since June 2010 he has been Vice- President of the European Central Bank.
Life
Vítor Constancio graduated in 1965 with a degree in economics at the Instituto Superior de Economia e Gestão (German: Institute of Economics and Management) in Lisbon, further, he completed a postgraduate degree at the University of Bristol, UK.
He was Secretary General of the Partido Socialista of Portugal from 1986 to 1989 and a candidate for the office of prime minister of his country in 1987, which he, however, failed. He was State Secretary for Budget and Planning in the First and Second Transitional Government from 1976, after the Carnation Revolution in 1974. During the same year he was elected as a deputy to the Portuguese Parliament and was 1977-1979 President of the Parliamentary Committee for European Integration. In 1978 he was Minister of Finance and Planning in the second constitutional government.
Vítor Constancio entered 1975 as Director of Statistics and Economic Studies in the service of the Banco de Portugal, from 1981 to 1984 was deputy governor of the same and 1985-1986 and again from 2000 to 2009 governor. In 1988 he was invited by Pinto Balsemão, participants of the Bilderberg conference in Sitges, Spain.
Later, he was between 1995 and 2000 Member of the Board of Banco Português de Investimento and the energy company Energias de Portugal.
Vitor Constancio is since 1989 a visiting professor at the Instituto Superior de Economia e Gestão of the Technical University of Lisbon.
European Central Bank
2010 took over Vitor Constancio the post of ECB Vice President Lucas Papademos, after he retired as scheduled after eight years in office. Before his appointment to the ECB Executive Board he had been accused during his time to have made serious errors as the Portuguese central bank president because he was not paying attention properly at various banking scandals. Constancio regarded as proponents of the purchase of government bonds kriselnder euro countries.
December 2012 took over Constancio together with ECB director Yves Mersch, the responsibility for the project bank Union, one of the most important projects in the history of the ECB. The new European Banking Supervisors is installed in increments from 2013, fully functional it should be in March 2014. The ECB is supposed to be for financial institutions from 30 billion euros total assets (150 to 200 banks ) directly responsible and able to grab in an emergency to all (more than 6000 banks) in the euro zone. The 150 banks under the direct ECB control, providing 85 percent of the assets. As head of the new ECB Banking Supervision, he should regularly appear before the European Parliament in order to report there report.