ECB Says Centeno Complied With Rules When He Was Proposed as PM

(Bloomberg) -- The European Central Bank’s ethics committee said Bank of Portugal Governor Mario Centeno didn’t compromise his independence as a member of the Governing Council when he was proposed as a possible successor to the country’s outgoing prime minister.

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Centeno “complied with the requirements of the ECB’s single code of conduct,” the ECB said in a letter to members of the European Parliament released on Friday.

The Bank of Portugal’s ethics commission had cleared Centeno of wrongdoing in November after his independence was questioned following the proposal announced by departing Premier Antonio Costa.

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