European Central Bank presidential election process aimed to be completed by year-end

Eurogroup President Kyriakos Pierrakakis announced in Brussels that the goal is to complete the European Central Bank (ECB) presidential election process by the end of the year.

Pierrakakis stated that Pablo Hernandez de Cos from Spain and Klaas Knot from the Netherlands have been nominated for the ECB presidency. Before the meeting where the ministers of the respective countries will introduce the candidates, Pierrakakis expressed that he would discuss the election calendar with EU Council President Antonio Costa.

Reminding that current ECB President Christine Lagarde will remain in office until February 7, Pierrakakis emphasized that the schedule for determining the new president is quite tight. Stating that the process is expected to proceed based on political consensus, Pierrakakis noted that the three vacant positions at the ECB could be handled as a package.