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Italy not yet taking sides between Spanish and Dutch candidates for ECB chief - Finance news and analysis from Global Banking & Finance Review
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Italy not yet taking sides between Spanish and Dutch candidates for ECB chief

Published by Global Banking & Finance Review

Posted on November 6, 2026

1 min read

· Last updated: November 6, 2026

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Italy Still Weighing Spanish and Dutch Nominees for European Central Bank Chief

Assessment of Candidates for ECB Presidency

ROME, Nov 6 (Reuters) - Italy has not yet made a choice between the Spanish and Dutch candidates to replace Christine Lagarde as president of the European Central Bank (ECB), officials from Prime Minister Giorgia Meloni's office said on Friday.

Nominees for the ECB Presidency

Spanish Nominee: Pablo Hernandez de Cos

Spain has nominated Pablo Hernandez de Cos, the General Manager of the Bank for International Settlements, while the Netherlands has proposed Klaas Knot, its former central bank chief, to take on Europe's most powerful financial role from February.

Dutch Nominee: Klaas Knot

The officials said Italy did not have a favourite, adding that the government was assessing the two nominations submitted. The process is a lengthy one and the government will make a carefully considered choice, they added.

Decision-Making Process

(Reporting by Giuseppe Fonte, editing by Alvise Armellini)

Key Takeaways

  • Italy has not endorsed either candidate yet, with Prime Minister Meloni’s office confirming no preference as of November 6, 2026.
  • Spain officially nominated Pablo Hernández de Cos—current BIS general manager and former Bank of Spain governor—who is seen by many as a technically strong, neutral choice (efe.com).
  • The Netherlands has formally put forward Klaas Knot, ex-Dutch central bank chief known for his hawkish yet pragmatic stance, with both nominations to be reviewed at the Eurogroup meeting on November 9 and a decision expected by mid‑December (banken.nl).

References

Frequently Asked Questions

Who are the candidates to replace Christine Lagarde as ECB chief?
Spain has nominated Pablo Hernandez de Cos and the Netherlands has proposed Klaas Knot as candidates for the European Central Bank president.
What is Italy's position on the ECB chief nominations?
Italy has not yet chosen between the Spanish and Dutch candidates and is currently assessing both nominations.
Who is Pablo Hernandez de Cos?
Pablo Hernandez de Cos is the General Manager of the Bank for International Settlements and the Spanish candidate for ECB chief.
Who is Klaas Knot?
Klaas Knot is the former Dutch central bank chief and the Netherlands' nominee for the European Central Bank presidency.
When is the new ECB chief expected to take office?
The new European Central Bank president is expected to take office from February, succeeding Christine Lagarde.

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