France is reportedly considering supporting Pablo Hernandez de Cos for the European Central Bank (ECB) presidency, according to multiple news outlets. The move would position de Cos, currently the head of the Bank for International Settlements, to succeed Christine Lagarde next year. Le Monde, Bloomberg Terminal, and the Finance Times reported that France's backing comes after discussions between Chancellor Friedrich Merz and President Emmanuel Macron over the weekend.
If de Cos secures the ECB top job, Germany would likely choose the next chief economist, while France would take over the markets portfolio. The reports cited unidentified sources familiar with the matter, highlighting the strategic negotiations behind the scenes as the ECB prepares for leadership changes.