Who will be the new boss of the European Central Bank? Here are the two names on the table...

Pablo Hernandez de Cos from Spain and Klaas Knot from the Netherlands were nominated to replace Christine Lagarde, who will leave her post as President of the European Central Bank (ECB).

Euro Group President Kiryakos Pierrakakis made a written statement about the candidate notifications for the ECB Presidency.

In the statement, it was reminded that Lagarde informed the President of the EU Council on October 29 that she would leave her post as of February 7, 2027.

In the statement, it was stated that the process for the appointment of the new ECB President was initiated, and it was reminded that candidates from member countries were asked to submit their applications until November 6.

In the statement, it was stated that candidacy notifications were made for Pablo Hernandez de Cos from Spain and Klaas Knot from the Netherlands within the specified period, and that the process will be discussed by the finance ministers at the meeting of the Euro Group on November 9.

Members of the bank's board of directors, including the President of the ECB, are appointed by EU leaders on the advice of the EU Council.

In order for the recommendation to be taken, the support of at least 16 of the 21 countries in the Eurozone is required. These countries are also required to represent at least 65 percent of the Eurozone population.

The opinions of the ECB and the European Parliament will be sought before the final decision of EU leaders.

ECB President Lagarde announced that she would end her term, which would normally expire at the end of October 2027, approximately 9 months early and leave in February.