Portugal will not present a candidate to succeed Lagarde

Portugal will not nominate a candidate to succeed Christine Lagarde as President of the European Central Bank (ECB), who plans to leave her position in February. This decision follows Lagarde's announcement to resign by February 7, 2027, prompting the European Council to initiate the nomination process. Eurogroup President Kyriakos Pierrakakis has requested member states to submit their candidate proposals by November 6, 2026. The informal Eurogroup will review the nominations in their upcoming meeting in Brussels, with the final decision made by the European Council based on recommendations from the EU Council.