Politics · Spain · 11 hrs ago
Spain puts forward Pablo Hernández de Cos to lead the European Central Bank
Spain will formally nominate Pablo Hernández de Cos to lead the European Central Bank with a letter to the Eurogroup president.
Hernández de Cos is a former governor of the Bank of Spain, and Spain’s economy minister is due to present his candidacy to Eurozone counterparts on Monday.
The Eurogroup must choose one candidate from those put forward for the ECB presidency.
The process is speeding up because current president Christine Lagarde plans to leave on February 7, earlier than the end of her term.
The winning candidate needs support from 72% of Eurozone states and 65% of its population.
After the Eurogroup’s choice, EU finance ministers will propose the candidate to European Council leaders, while the European Parliament and ECB governing council will also give opinions.
Governments may aim to settle the choice in December, but negotiations could push it to January or February, before Lagarde leaves.
Spain plans to formally nominate Pablo Hernández de Cos to become president of the European Central Bank.
The government will send a letter to Eurogroup president Kiriakos Pierrakakis to confirm the candidacy.
Deputy Prime Minister Carlos Cuerpo is due to present the nomination at a Eurogroup meeting the following Monday.
The Eurogroup will choose a candidate by a reinforced qualified majority, but the date of the vote has not been set.
The process is expected to take place before Christine Lagarde leaves the ECB presidency on February 7.
- Who
- Spain’s government is nominating Pablo Hernández de Cos, a former governor of the Bank of Spain.
- What
- It is putting him forward to lead the European Central Bank.
- When
- The government plans to formalize the nomination on Friday, November 6, 2026. Cuerpo is due to present it the following Monday.
- Where
- The nomination will be presented to the Eurogroup, which is made up of eurozone finance ministers.
- Why
- Not stated.
This story does not have two clearly opposing sides.
Spain’s government plans to formalize Hernández de Cos’s candidacy in a letter to Eurogroup president Kiriakos Pierrakakis.
Deputy Prime Minister Carlos Cuerpo is due to present the candidacy to Eurogroup colleagues.
Christine Lagarde is due to leave the ECB presidency.
- Nominee
- Pablo Hernández de Cos
- Current role
- Former governor of the Bank of Spain
- Formal notification
- Letter to Eurogroup president Kiriakos Pierrakakis
- Presentation
- Deputy Prime Minister Carlos Cuerpo
- Required support
- 72% of eurozone member states and 65% of the population
What people are saying
capable of building consensus