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A well-known character gets job in Portugal’s cabinet.

Pedro Passos Coelho, the recently elected prime minister of Portugal, has announced that Vítor Gaspar will be his finance minister.

Gaspar is well known in Brussels because he was an economic adviser to European Commission President José Manuel Barroso. He headed the president’s in-house think-tank, the Bureau of European Policy Advisers, from January 2007 until February 2010 when he moved back to Portugal and became a special adviser at the country’s central bank.

Gaspar has a mischievous sense of humour and was fond of teasing audiences in Brussels by styling himself as an innocent economist who had fallen among politicians. (Before joining the Commission, he was director-general of research at the European Central Bank.) He had taken the job with Barroso, he said, to see close up how politicians operate. Now that he has himself become a minister it might be a bit more difficult to maintain the fiction.

On the other hand, since Portugal has had to seek assistance from the International Monetary Fund and the eurozone’s bail-out fund, it is arguable that the economic agenda is being set by the technocrats. Viewed in that light, the appointment of Gaspar to negotiate with the likes of Klaus Regling, a former Commission director-general who now heads the European Financial Stability Facility, makes sense.

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