Bundesbank Head Joachim Nagel Ruled Out for ECB Top Job

According to business daily Handelsblatt, Joachim Nagel's chances of succeeding Christine Lagarde as head of the European Central Bank are slim. The German government is unlikely to nominate Nagel for the role, citing four people familiar with the process.

The source states that it is 'highly unlikely' that Nagel will be nominated by the German government. This development would effectively end his bid to lead the ECB after Lagarde's term ends.