Germany will nominate a candidate to replace Isabel Schnabel on the European Central Bank's executive board, Finance Minister Lars Klingbeil said. Schnabel will leave the ECB on January 3 for a post at the International Monetary Fund.
Germany will put forward a candidate to replace ECB board member Isabel Schnabel, Finance Minister Lars Klingbeil said. Schnabel is due to leave the central bank on January 3 to take a post at the International Monetary Fund.
The ECB will see at least half of its executive board turn over in the coming year. Chief economist Philip Lane is set to leave by May 31, while President Christine Lagarde is set to leave by the end of October 2027 at the latest, subject to persistent resignation rumors.
The article says Germany's bid for Schnabel's seat likely means it will not contest Lagarde's seat next year. It identifies Spain's Pablo Hernandez de Cos and former Dutch central bank chief Klaas Knot as possible successors to Lagarde, and says France will be in a strong position to nominate a candidate for the chief economist role.
