Merz to meet ECB succession frontrunners de Cos and Knot

  • Friedrich Merz will meet Pablo Hernández de Cos and Klaas Knot over ECB leadership candidacies.
  • Lagarde's term expires in October 2027, while Schnabel and Lane face earlier departures.
  • Germany may seek another senior ECB post instead of nominating Joachim Nagel for president.

German Chancellor Friedrich Merz is set to meet Pablo Hernández de Cos of Spain and Klaas Knot of the Netherlands, the two leading candidates to succeed European Central Bank President Christine Lagarde. Knot's meeting is expected in the coming days, while de Cos is due to meet Merz within the next few weeks, Bloomberg reported, citing people familiar with the matter. The discussions come as Lagarde has said she would not rule out leaving a few months before her term expires in October 2027. Executive Board member Isabel Schnabel is due to depart in early January, and Chief Economist Philip Lane's term ends in May. Greece's prime minister has proposed that European leaders seek a broader agreement covering all three positions. Germany's involvement is considered important in the leadership negotiations, while French President Emmanuel Macron has not yet met either candidate. The planned meetings also suggest Berlin is no longer considering Bundesbank President Joachim Nagel for the ECB presidency. Germany could instead pursue another senior role, with potential candidates including Markus Brunnermeier, Ulrike Malmendier, Tobias Adrian and Joerg Kukies.

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