Solbes genoemd als nieuwe Spaanse minister voor Financiën en Economie (en)

Pedro Solbes, currently commissioner for economic and monetary affairs, is set to be appointed finance minister of Spain, according to Spanish business paper Expansion.

If the report is confirmed, it would mean Mr Solbes would have to step down from Brussels before the Commission's term ends at the end of October.

According to Reuters, a Socialist party spokesperson dismissed the report as speculation and the Commission itself declined to comment.

Mr Solbes certainly has the necessary experience for the job. He has been Spanish finance minister before - under the previous socialist government (1993-1996) and acted as an advisor to the new prime minister Jose Luis Rodriguez Zapatero.

As economics and monetary affairs commissioner, he shot to fame as a staunch defender of the rules underpinning the euro, in the teeth of opposition from France and Germany.

He also became embroiled in last year's scandal surrounding fraud at the EU's statistics agency Eurostat, over which he has jurisdiction.

Ironically, he may have to shift his stance on the euro rules, as the incoming government is widely expected to push for a more flexible Stability Pact, so siding more with France and Germany.

The new Spanish government is expected to take the reins in mid-April.