Vítor Constâncio

Who is Vítor Constâncio?

Vítor Manuel Ribeiro Constâncio, GCC, GCIH is a Portuguese economist and politician, Vice President of the European Central Bank. Constâncio graduated in economics from the Universidade Técnica de Lisboa.

He was secretary-general of the Socialist Party from 1986 to 1989. He lost the legislative elections of 19 July 1987, but remained in office. He resigned the following year, being replaced by Jorge Sampaio.

He was governor of the Banco de Portugal, the Portuguese central bank, from 2000 to 2010, having been re-appointed in 2006.

He was appointed vice-governor in 1977, in 1979, and in the period from 1981 to 1984. He was Governor of the Portuguese Central Bank from 1985 to 1986.

While in office, he advocated salaries stagnation or increases below inflation, as a way to increase the Portuguese economy's competitiveness.

Two Portuguese banks