France Ties Support for ECB Chief Candidate to French Chief Economist Role
France is prepared to support former Dutch central bank governor Klaas Knot for the presidency of the European Central Bank, provided that the position of chief economist is awarded to a French national.
The informal proposal, backed by President Emmanuel Macron, aims to secure French influence over the eurozone's monetary policy trajectory before he leaves office in May 2027.
Knot, 59, led De Nederlandsche Bank from 2011 until 2025 and served 14 years on the ECB Governing Council. He is widely viewed as a pragmatic hawk who has shown flexibility in his approach to monetary policy.
In exchange for supporting Knot's candidacy, France is demanding that the position of chief economist be returned to a French national. The current chief economist, Philip Lane from Ireland, is scheduled to conclude his term in May 2027.