The race to succeed Christine Lagarde as the president of the European Central Bank (ECB) has narrowed down to two candidates: Dutch central banker Klaas Knot and Spaniard Pablo Hernandez de Cos.
The Netherlands and Spain each nominated their former central-bank chiefs for the position, which will become vacant when Lagarde steps down in February. This announcement came from Kyriakos Pierrakakis, who leads the group of euro-area finance ministers.
Pablo Hernandez de Cos currently serves as the head of the Bank for International Settlements, adding an international dimension to his candidacy.
The selection between Knot and de Cos will determine the future leadership of the ECB, a critical role in shaping monetary policy for the eurozone.