France to back Knot for next ECB president, demands chief economist post in return
MacroGeopolitics
France is seeking to have a French national appointed to the ECB's key role of chief economist in exchange for supporting former Dutch central bank chief Knot as the successor to ECB President Lagarde, according to people familiar with the matter. The proposal has the backing of French President Macron, but Germany may push back strongly, potentially setting off intense political negotiations among the euro area's major powers, the people said. Under the proposal, Knot, who served as head of the Dutch central bank from 2011 to 2025, would win French support to become the next ECB president, and in return France would be allotted the chief economist post, which the president names from among the board members. Lagarde is French, and her term ends at the end of October 2027. The French presidential office and the Dutch finance ministry did not provide comment on the matter. Knot declined to comment, and the ECB also declined to comment.
