Race to Replace Christine Lagarde as European Central Bank President Begins

European Union countries have until Friday to nominate candidates to succeed Christine Lagarde as European Central Bank president. Lagarde announced her early departure in late October, starting a succession process involving eurozone governments. Eurogroup President Kyriakos Pierrakakis has invited member states to submit nominations, and finance ministers are scheduled to review candidates in Brussels on November 9. Potential contenders include former Dutch central bank governor Klaas Knot and Pablo Hernández de Cos, a senior official at the Bank for International Settlements. The appointment will shape leadership of eurozone monetary policy.

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