The central government and ERC have agreed that Jordi Pons Novell, a professor of economics at the University of Barcelona, will take the seat on the Bank of Spain’s governing board traditionally associated with what is known as the ‘Catalan quota,’ according to sources familiar with the talks cited by El Periòdic. The move follows a late July meeting at the Palau de la Generalitat between the Spanish prime minister, Pedro Sánchez, and the then-president of the Catalan Government, Pere Aragonès, to stage the transfer of responsibility for the Minimum Vital Income to Catalan administration. The gesture aimed to secure ERC backing for Salvador Illa’s investiture as the new president. [Source attribution: El Periòdic]
At that time, Sánchez and Aragonès committed to finalizing other pending PSOE-ERC agreements, though specifics were not provided. The confirmation that José Luis Escrivá, minister for Digital Transition and formerly for Social Security, will be named the new governor of the Bank of Spain is expected to allow Pons’ appointment to proceed shortly. Economy Minister Carlos Cuerpo stated in the Congress that vacancies inside the institution would be filled in the coming weeks, including within the government council and the appointment of a new deputy governor. Government sources say the aim is to finalize these moves at the next Council of Ministers meeting on September 17, though nothing is binding yet. [Source attribution: El Periòdic]
Pons Novell, an economist tied to ERC circles, was proposed by the conservatives and accepted by the government. He is a professor in the department of econometrics, statistics and economics, with a specialization in regional economics. He earned his economics degree in 1992 from the University of Barcelona, completed post-graduate studies in quantitative methods in 1993, and earned a PhD in 1995 with a dissertation on cyclical indicators of the Catalan economy. [Source attribution: El Periòdic]
In 2005 he co-authored the book El expolio fiscal, una asfixia premeditada with Ramon Tremosa, a former deputy and former minister from Junts. Between 2007 and 2022 he served on the Sindiquitat de Comptes, an assignment proposed by ERC. During that period he contributed to the 2020 report on the Institució de les Lletres Catalanes, a document that later led to the conviction of former president Laura Borràs of Junts to four and a half years in prison and 13 years of disqualification for contract irregularities in 2023. [Source attribution: El Periòdic]
Tradición no escrita
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The Catalan quota on the Bank of Spain’s governing board has been vacant since March of last year, when Nuria Mas completed her term. She was appointed during the Rajoy administration based on a proposal from Economy Minister Luis de Guindos. Although she could have served a second term, the then Deputy Economy Minister Nadia Calviño chose not to extend it. She indicated in Congress that she would appoint a replacement with high qualifications and proven prestige. Negotiations with ERC have taken more than a year to bear fruit. [Source attribution: El Periòdic]
People familiar with the process note several names were proposed but did not attain the necessary consensus. The so-called Catalan quota is not enshrined in law; it is a tradition dating from the early democratic period that acknowledges the political influence and economic weight of the community. In the past, it has been held by Joan Sardà Dexeus (1980-1984), Josep Lluís Sureda (1985-1994), Alfredo Pastor (1990-1993), Eugeni Domingo (1994-1998), Joaquim Muns (1994-2004), Guillem López Casasnovas (2005-2017), and Nuria Mas (2017-2023). [Source attribution: El Periòdic]
The Bank of Spain’s governing board in recent decades has consisted of three members appointed by the ruling party, two from the main opposition, and one designated by the regional government. These three latter members must be approved by the Executive, which holds the legal prerogative to appoint them. The 1994 Bank of Spain autonomy law states that all six members are appointed by the government, on the economy minister’s proposal and after consulting the governor, and must be Spaniards with recognized expertise in economics or law. [Source attribution: El Periòdic]
Two governance bodies
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In addition to Pons, the board will include Escrivá, the new deputy governor yet to be named, board directors Judith Arnal, Carles Manera, Soledad Núñez, Fernando Fernández, and Luis Servén, along with ex officio members Paula Conthe, the treasury secretary general, and Montserrat Martínez Parera, the vice chair of the National Securities Market Commission. This governing body sets the general direction of the institution, while the executive committee — comprising the governor, the deputy governor, and the board members Núñez (PSOE) and Fernández (PP) — handles implementation. [Source attribution: El Periòdic]
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Facing the ERC agreement, Escrivá’s nomination despite PP opposition marks a break with the unwritten consensus that the government selects a governor palatable to the main opposition, a pact that historically balanced the two sides. Early last year, a potential shift in the governance consensus nearly occurred when Calviño considered not negotiating with the conservatives on two board members to replace Fernando Eguidazu (PP) and Carmen Alonso (PSOE). The then-governor Pablo Hernández de Cos persuaded her otherwise, and the final picks were Arnal and Fernández. [Source attribution: El Periòdic]