EU wants new ECB chief by end of year as race begins to replace Lagarde
BRUSSELS, Nov 9 — The EU wants to name the next head of the European Central Bank by the end of the year, Eurogrou...
EU officials aim to appoint a successor to ECB chief Christine Lagarde by the end of the year, according to Eurogroup chief Kyriakos Pierrakakis. Two candidates have been identified: former Dutch central bank chief Klaas Knot and Spain’s Pablo Hernandez de Cos, the head of the Bank for International Settlements (BIS). Lagarde announced her intention to step down in February.
During a Eurogroup meeting, Dutch and Spanish ministers will present their respective candidates, with EU leaders tasked with finalizing the appointment. Negotiations will likely be intense, as ECB executive board member Isabel Schnabel and chief economist Philip Lane also require replacements. Spanish Economy Minister Carlos Cuerpo praised Hernandez de Cos for his extensive experience, while Dutch Finance Minister Eelco Heinen lauded Knot for his deep understanding of the ECB mandate.
Irish Finance Minister Simon Harris hopes the new ECB head will be chosen by December, emphasizing the importance of a swift and qualified appointment.
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