Race to succeed Lagarde heats up
Bank of Spain Governor José Luis Escrivá said Spain’s candidate to succeed European Central Bank President Christine Lagarde would receive strong support from Eurozone countries.
Spain’s leading contender is former Bank of Spain Governor and current BIS General Manager Pablo Hernández de Cos. Lagarde’s term runs until October 2027, but discussions over her successor are already gaining momentum.
One of de Cos’s main potential rivals is former Dutch central bank governor Klaas Knot. Isabel Schnabel’s departure from the ECB to take up a role at the IMF, along with Chief Economist Philip Lane’s term ending in May 2027, is paving the way for a broad reshuffle in the ECB’s leadership. Negotiations among Eurozone countries over the next president and other senior positions are expected to intensify in the coming period.
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