The President of the Spanish Government, Pedro Sánchez, has confirmed his support for Pablo Hernández de Cos's candidacy to lead the European Central Bank. This decision comes in a context of possible changes in the ECB's leadership.
Pedro Sánchez, the President of the Government, has officially endorsed the candidacy of Pablo Hernández de Cos for the presidency of the European Central Bank (ECB), as reported by expansion.com. During an interview with Bloomberg, Sánchez stated: "Of course, he has my support. He has the leadership, as well as the capability and knowledge. It would be very positive not only for Spain but also for Europe to have someone like him leading the central bank."
This support is crucial, as the Ministry of Economy has been in discussions with De Cos since the beginning of the year. The selection of the ECB president requires not only prestige and experience but also solid political diplomacy. The situation has accelerated due to rumours of a possible early departure of Christine Lagarde, the current president of the ECB, who is expected to leave her position before the end of her term in **October 2027**.
De Cos is running as a candidate alongside others such as Klaas Knot and Joachim Nagel, although it is likely that new contenders will emerge. The Spanish Government considers it essential to secure representation on the ECB's Executive Board, having previously experienced the absence of a Spanish representative.
The selection of the ECB president takes place within the Council of the European Union, where ministers from member states vote until a qualified majority is reached. Subsequently, the candidate must present themselves before the Economic and Monetary Affairs Committee of the European Parliament.
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