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BackSpain formally presents the candidacy of Hernández de Cos for the presidency of the ECB
Spain formally presents the candidacy of Hernández de Cos for the presidency of the ECB
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El País18 minutes agoBusiness1 min readSpainView original

Spain formally presents the candidacy of Hernández de Cos for the presidency of the ECB

The former governor of the Bank of Spain will likely compete against the Dutchman Klaas Knot for the position that Christine Lagarde will leave vacant.

pablo hernández de coseuropean central bankcarlos body

Quick Look

  • The Spanish Government has officially nominated Pablo Hernández de Cos to preside over the European Central Bank.
  • The former governor of the Bank of Spain will likely face the Dutch candidate Klaas Knot to succeed Christine Lagarde.

AI-generated summary

Why It Matters

Christine Lagarde will leave the presidency of the ECB early on February 7. The Eurogroup will evaluate the applications on November 9.

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Spain now officially has a candidate for the presidency of the European Central Bank, the most powerful economic institution in Europe. Pablo Hernández de Cos, former governor of the Bank of Spain and currently managing director of the Basel Bank for International Settlements, has been formally presented as a candidate for the president of the Eurogroup, the Greek Kyriakos Pierrakakis, by the first vice president and minister of Economy, Commerce and Business, Carlos Body. The deadline for other member states to submit their proposals ends today, with the Netherlands expected to present Klaas Knot, the country's former central bank governor.

If no more proposals are presented by 5 p.m., the Spaniard and the Dutch will compete for the position currently occupied by the Frenchwoman Christine Lagarde, who will leave office early on February 7. "Pablo Hernández de Cos is an exceptional candidate, with recognized international prestige and a career that demonstrates leadership, independence and the capacity for dialogue. I am convinced that he would bring to the ECB the same firm hand that he showed at the head of the Bank of Spain, where he promoted greater transparency and a rapprochement with citizens," said Vice President Carlos Body.

The finance ministers of the euro zone will examine the candidacies presented at the Eurogroup meeting on November 9.

What to Watch

AI outlook — possibilities, not facts

  • Finance ministers will examine the applications on November 9.

    Very likely · Within weeks

Open Questions

  • Will Klaas Knot be formally presented before the deadline?
  • Who will be the final candidate chosen by the finance ministers?

Related Topics

pablo hernández de cos
PeoplePablo Hernandez de CosKyriakos PierrakakisCarlos BodyKlaas Knot
OrganizationsEuropean Central BankBank of SpainBank of International SettlementsEurogroup
Topicseuropean central bankcarlos bodybank of spaineurogroupchristine lagarde
This article was originally published by El País.

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