Business & Finance

Eurogroup chief says EU wants new ECB head by December

Deutsche Welle reports Christine Lagarde's early exit has put the EU on a tight schedule to choose a new ECB head.

Published Nov 9, 2026 · 21:12 UTC1 reports

The short version

Eurogroup chief Kyriakos Pierrakakis said the EU wants to name a new ECB head by the end of December.[Deutsche Welle]
Christine Lagarde announced on October 29 that she will step down nine months before her term ends.[Deutsche Welle]
The reported candidates are Klaas Knot and Pablo Hernandez de Cos, each praised by a different national minister.[Deutsche Welle]
Reuters, citing officials, reports the three ECB Executive Board jobs may be negotiated together as one package.[Deutsche Welle]

The EU aims to name a new ECB head by the end of December 2026, according to Eurogroup chief Kyriakos Pierrakakis.[Deutsche Welle]
Christine Lagarde announced on October 29 that she will step down nine months before the end of her term.[Deutsche Welle]
The two reported candidates to replace Lagarde are Klaas Knot, former Dutch central bank governor, and Pablo Hernandez de Cos, head of the Bank for International Settlements.[Deutsche Welle]
Spanish Economy Minister Carlos Cuerpo said Hernandez de Cos was the right person for the position.[Deutsche Welle]
Dutch Finance Minister Eelco Heinen said Knot was an excellent candidate with a clear understanding of the ECB mandate.[Deutsche Welle]
Reuters, citing officials, reported the three open ECB Executive Board jobs are likely to be negotiated as a package among France, Germany, Spain and the Netherlands.[Deutsche Welle]

The package-deal arrangement is reported only through unnamed officials cited by Reuters and has not been independently confirmed.[Deutsche Welle]
The reporting does not say which candidate will be chosen; the ministers' endorsements are stated preferences, not decisions.[Deutsche Welle]

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.