European Council President Antonio Costa announced on Thursday that the search for a new European Central Bank (ECB) president will begin immediately. The process aims to find a successor for Christine Lagarde, whose current term is set to end. Costa emphasized the need for a smooth transition, stating that the appointment process will proceed without delay to ensure a timely decision by the European Council.
The announcement comes as Lagarde's leadership at the ECB nears its conclusion, prompting the European Council to initiate the search for her replacement. Costa's statement underscores the importance of a swift and orderly transition to maintain stability within the ECB's governance structure.