Spain and Portugal central banks strengthen collaboration
The Banco de España and Banco de Portugal held a high-level bilateral meeting in Lisbon to reinforce relations and examine issues of mutual interest. Governors Álvaro Santos Pereira and José Luis Escrivá led the discussions.
Shared challenges and cooperation avenues
The Banco de España and Banco de Portugal convened a high-level bilateral meeting at the latter's headquarters in Lisbon, aiming to reinforce their institutional ties and address issues of shared interest.
The discussions, led by Governors Álvaro Santos Pereira and José Luis Escrivá, spanned critical areas including economic outlooks, financial stability challenges, and the evolving European and international landscape.
Expert teams from both central banks also explored the implications of artificial intelligence for financial systems and strategies for enhancing statistical information exchange.
These sessions focused on identifying concrete avenues to deepen existing cooperation and foster a more integrated approach to common challenges, reflecting a shared commitment to regional financial stability and economic understanding within the Eurosystem.
Institutionalizing future dialogue
A key outcome of the high-level meeting was the agreement to establish quarterly bilateral meetings between the two central banks.
These regular encounters are designed to further deepen cooperation and facilitate ongoing discussions on a wide range of topics of mutual interest, ensuring sustained dialogue and coordinated action on shared challenges.
The delegations were led by Governors Álvaro Santos Pereira of the Banco de Portugal and José Luis Escrivá of the Banco de España.
Key officials from both institutions participated, including deputy governors and director generals covering economic analysis, financial stability, and data strategy, underscoring the comprehensive nature of the discussions and the commitment to a robust and ongoing partnership.
Deepening ties for future resilience
The agreement for quarterly meetings elevates the bilateral relationship, establishing a robust framework for continuous dialogue between the two central banks.
This institutionalized cooperation is crucial for navigating complex shared challenges in financial stability and the evolving European economic landscape.
It positions both central banks to foster greater resilience and coordinated responses in an interconnected financial system.