August 3, 2021

Román Escolano, the shortest minister of democracy, signed by the consultant EY

Román Escolano, the shortest minister of democracy, signed by the consultant EY

The former Minister of Economy Román Escolano has signed for the financial consultancy EY, according to the publication of the digital media La Información on Thursday. The economist has become an external advisor to one of the leading international consultancies, after less than three months at the head of the Ministry of Economy. Escolano acceded to the position during the last mandate of Mariano Rajoy after the march of Luis de Guindos to the presidency of the European Central Bank.

The new contract of Escolano has required the approval of the Office of Conflict of Interest, as often happens with former political leaders. In the beginning, the institution, which depends on the Ministry of Territorial Policy and Public Function, has not found an impediment for the former minister to carry out the consulting functions that his new contract will require.

In addition to his consulting work with EY, Escolano also serves as a professor at the University College of Financial Studies (CUNEF), where he is responsible for its internationalization and teaches courses on finance in undergraduate and graduate

Escolano was Minister of Economy, Industry and Competitiveness less than three months in the last Government of Mariano Rajoy, from his appointment in substitution of Luis de Guindos, published in the BOE on March 8, until the beginning of June when the Congress approved the motion of censure presented by the PSOE against the Executive of the PP.

In fact, he is the third minister who has lasted the longest as minister of a ministerial portfolio in all of Spanish democracy when he remained in the post for 85 days, only behind the former Minister of Agriculture, Fisheries and Food, José Luis García Ferrero, who lasted 81 days in the Government of Leopoldo Calvo-Sotelo, and Màxim Huerta, the former Minister of Culture and Sport of the current Government of Pedro Sánchez who only lasted six days to resign after uncovering that he was sentenced in 2017 for defrauding the Treasury.

Escolano made budgetary stability, continuity of reforms and opening up to the outside world a priority for his department, as well as a boost to the internationalization of Spanish companies and the integration of Spain into the European Union.

Close to De Guindos, he was with him as minister when Escolano was appointed president of the ICO between 2012 and 2014 and it was De Guindos himself who proposed his appointment as vice president of the EIB in 2014. In addition, he has worked with the PP governments of José María Aznar and Mariano Rajoy.


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