Politics · Spain · 4 hrs ago
Pablo Hernández de Cos leads expert poll to succeed ECB chief Lagarde
Pablo Hernández de Cos is the leading choice among economists to succeed Christine Lagarde as president of the European Central Bank, or ECB.
De Cos is the head of the Bank for International Settlements and a former governor of Spain’s central bank.
His main rival is Klaas Knot, a former governor of the Netherlands’ central bank who has also held a senior international financial role.
Expert opinion does not decide the appointment: EU leaders will weigh political and geographic interests as well as candidates’ experience.
The choice is linked to appointments for the ECB’s market operations chief and chief economist, posts expected to go to France and Germany.
The decision is due at a December European Council summit, when Spain will have a caretaker government.
The outcome matters because it will shape the leadership of one of the EU’s most powerful institutions, and the selection process is still ahead.
Pablo Hernández de Cos leads expert polls as a potential successor to European Central Bank President Christine Lagarde.
Hernández de Cos is the former governor of the Bank of Spain and is now managing director of the Bank for International Settlements.
Klaas Knot, the former governor of the Dutch central bank, is his main contender.
The selection will involve political and geographic considerations as well as candidates’ technical credentials.
European Union leaders are due to discuss the succession at a European Council summit in December.
- Who
- Pablo Hernández de Cos is the expert-poll favorite to succeed Christine Lagarde. Klaas Knot is his main contender.
- What
- Experts have favored Hernández de Cos in polls about who should become the next ECB president.
- When
- The polls have taken place over recent months. EU leaders are due to discuss the succession in December.
- Where
- The position is at the European Central Bank. The succession debate is expected at the European Council.
- Why
- Experts favor Hernández de Cos based on his credentials, but the selection also involves political and geographic considerations.
Pablo Hernández de Cos
Klaas Knot
Expert polls
Pablo Hernández de Cos
Hernández de Cos is favored in polls by experts.
Klaas Knot
Knot is his main contender.
Background
Pablo Hernández de Cos
He is the former governor of the Bank of Spain and leads the Bank for International Settlements.
Klaas Knot
He is the former governor of the Dutch central bank and chaired the Financial Stability Board.
National representation
Pablo Hernández de Cos
He would represent Spain, a large European economy that is growing fastest, according to the article.
Klaas Knot
His appointment would give the Netherlands the ECB presidency for a second time, despite being a small country.
Expert polls by the Financial Times have favored Hernández de Cos.
Bloomberg polls have also named Hernández de Cos the favorite.
The European Council summit is expected to address the succession to Lagarde.
- Poll favorite
- Pablo Hernández de Cos
- Main contender
- Klaas Knot
- Hernández de Cos's current role
- Managing director of the Bank for International Settlements
- Knot's former role
- Governor of the Bank of the Netherlands
- Expected discussion
- European Council summit in December
What people are saying
He has the best résumé and is the most capable. The other candidate is also very strong, but he is not the best.
a delicate balance of political negotiation and geographical interests