The 19 finance ministers of the euro zone are set to appoint Luis de Guindos, the Spanish economy minister, as the next vice president of the European Central Bank (ECB).

The appointment will be the first in a reshuffle in positions within the central bank that could change the course of its monetary policy.

The Eurogroup announced its support Monday afternoon for De Guindos' candidacy as the ECB's next vice president. The 19 heads of state of the euro zone are set to give final approval for the next vice president at a meeting in March.

In a statement, the Eurogroup said: "The recommendation to the European Council, composed of the heads of state and government, should be formally adopted by the Council on 20 February. On this basis, the European Council will request opinions from both the European Parliament and the Governing Council of the ECB. It is then expected to adopt its final decision at its meeting of 22-23 March."