Germany Unlikely to Nominate Bundesbank Chief Nagel for ECB Presidency

The German government is reportedly unlikely to nominate Bundesbank President Joachim Nagel to succeed Christine Lagarde as president of the European Central Bank, according to a report by Handelsblatt.

Officials in Chancellor Friedrich Merz's office are said to have reservations about Nagel's chances, and within the Christian Democratic Union (CDU), there are also concerns that he may not be suitable for the post.

The reason behind these doubts is reportedly that European Commission President Ursula von der Leyen could be considered for the position instead of a German candidate.