Centeno will not be a candidate to succeed Lagarde at the ECB

Portugal will not nominate a candidate to succeed Christine Lagarde as President of the European Central Bank, following her announcement to leave the position early. Mário Centeno, former Finance Minister and Governor of the Bank of Portugal, was considered a potential candidate. The formal nomination process has begun, with eurozone countries required to submit candidates by November 6, 2026. The Eurogroup will review the nominations during their upcoming meeting in Brussels. The European Council will ultimately decide on the new president based on recommendations from the Council of the European Union.