Spain and the Netherlands propose candidates for ECB

Spain and the Netherlands have nominated candidates to succeed Christine Lagarde as President of the European Central Bank. Pablo Hernández de Cos and Klaas Knot are the respective nominees. Eurogroup President Kyriakos Pierrakakis announced the nominations, which were submitted by the deadline of 5 PM local time. Hernández de Cos, former Governor of the Bank of Spain, is currently the General Director of the Bank for International Settlements. Knot has led the Dutch central bank since 2011. The Eurogroup will discuss these nominations in their upcoming meeting on November 9, but no decision on the successor is expected at that time.