Merz to meet frontrunners for Lagarde job as ECB race heats up - Bloomberg

German Chancellor Friedrich Merz is set to meet with Spanish candidate Pablo Hernández de Cos and Dutch candidate Klaas Knot to discuss their bids for the European Central Bank presidency, following the recent resignation of Isabel Schnabel. Both candidates received backing from their respective national leaders. Merz's meetings with the frontrunners indicate increased activity behind the scenes as European leaders consider upcoming vacancies at the ECB.

ECB President Christine Lagarde has suggested she may step down a few months before her term ends in October 2027, with upcoming departures of Executive Board member Schnabel and Chief Economist Philip Lane further accelerating the succession process. French President Emmanuel Macron has yet to meet with Knot or de Cos, but French officials have held discussions with both candidates in recent months.

Germany is now focusing on other candidates, such as Princeton University's Markus Brunnermeier, UC Berkeley's Ulrike Malmendier, former IMF official Tobias Adrian, and former German Finance Minister Joerg Kukies.