Magdalena Alvarez may be back on the job search

MAGDALENA Alvarez – current vice president of the European Investment Bank (BEI) – may be out of a job.

Spanish minister of economy Luis de Guindos will decide before August if Alvarez will continue after her involvement in the ERE scandal in Andalucia.

The scandal – known colloquially as EREscándolo – involved apparently fraudulent early retirement plans within the Seville company Mercasevilla.

At a meeting of the Council of Ministers of Economy and Finance of the European Union, de Guindos mentioned that in the coming weeks Spain will decide Alvarez’s future and that of others involved in the scam.

Mercedes Alaya, the judge investigating ‘ERE gate’, has also revealed evidence for crimes of embezzlement and breach of trust during Alvarez’s time as the Minister of the Andalucia Junta’s Finance and Economy Board.