Bank of Spain’s Political Storm Rages On With Officials Exiting

The Bank of Spain has been embroiled in a political storm since the appointment of José Luis Escrivá as its chief in September 2021. The article highlights the ongoing turmoil, marked by a series of high-profile departures under Escrivá's leadership. The situation has been further exacerbated by the exits of several senior officials, including the bank's chief economist and the head of the financial stability department. These departures have raised concerns about the stability and continuity of the institution's policymaking and oversight functions. The article suggests that the political dynamics within the Bank of Spain have become increasingly complex, with tensions between Escrivá and other officials potentially contributing to the current upheaval. The continued instability at the central bank is likely to have broader implications for Spain's financial and economic landscape, and the situation is expected to remain a focus of attention in the coming months.