German Chancellor Friedrich Merz and French President Emmanuel Macron have reportedly agreed that Pablo Hernandez de Cos should succeed Christine Lagarde as the next president of the European Central Bank (ECB). The news, initially reported by French magazine Le Point, has been denied by a German government spokesman, who called the report false.
The potential appointment of de Cos, who currently serves as the governor of the Bank of Spain, would mark a significant shift in leadership at the ECB. Lagarde's tenure is set to end next year, and the selection of her successor has been a topic of intense speculation among European financial circles.
The denial from the German government underscores the sensitivity surrounding the ECB presidency, a role that wields considerable influence over the economic policies of the Eurozone. The report's inaccuracy highlights the challenges in navigating the political and diplomatic landscape of such high-stakes appointments.