Nagel Unlikely to Get German Nomination for ECB Presidency

German officials are unlikely to nominate Bundesbank President Joachim Nagel for the European Central Bank presidency, according to German financial daily Handelsblatt. The newspaper cites four people familiar with the matter as saying that Chancellor's office officials see Nagel as having little prospect of securing the post. Additionally, reservations about him exist within Chancellor Friedrich Merz's Christian Democratic Union (CDU).

One factor weighing against a German candidacy is that European Commission President Ursula von der Leyen is reportedly seen as a strong contender for the position. The Handelsblatt article does not provide further details on why Nagel is considered less likely to be nominated.