Euro area governments, after preliminary vetting of ECB presidential candidates,
are considering packaging the presidency with two other senior posts. Following
last week’s application deadline, euro area finance ministers confirmed
nominations of Dutch central bank governor Klaas Knot and Spain’s Pablo
Hernández de Cos and discussed deciding all three appointments together. The
proposal will be submitted to EU leaders for discussion with a target decision
in December. Eurogroup chair Kyriakos Pierrakakis said two experienced,
internationally respected candidates have been nominated and leaders may seek a
joint settlement to build consensus. The process opens the political contest
over who will set monetary policy for a euro area of more than 350 million
people; ECB President Christine Lagarde said last month she will leave the post
early in February to allow herself greater freedom to comment on politics
matters.
