Merz to Meet Frontrunners for ECB Leadership Amid Lagarde's Potential Departure

As European Central Bank President Christine Lagarde considers leaving her post before her term expires in October 2027, German Chancellor Friedrich Merz is meeting the two frontrunners to succeed her. Spain's Pablo Hernández de Cos and the Netherlands' Klaas Knot are set to discuss their candidacies with Merz.

De Cos, a former Bank of Spain governor, currently serves as general manager of the Bank for International Settlements, while Knot previously headed the Dutch central bank. Both candidates have received public backing from their respective national leaders in recent weeks.

The planned meetings indicate growing activity behind the scenes as European leaders consider several impending vacancies at the ECB, including Executive Board member Isabel Schnabel's departure in early January and Chief Economist Philip Lane's term ending in May. Greece's prime minister has suggested seeking a broader agreement covering all three positions.