Dutch International: Reports about Lagarde possibly leaving the European Central Bank have put the issue of succession in the spotlight.
Carsten Brzeski of the ING Group in the Netherlands said that reports of European Central Bank President Christine Lagarde possibly stepping down early would reignite discussions among European governments on how to allocate the next round of vacancies. In a report, he said that Lagarde is the first ECB President to face such speculation during her term. Brzeski said, "Will this undermine the position of the President, or even the monetary policy of the European Central Bank? I am deeply skeptical about this." He said that it now appears that the succession question of Lagarde, ECB Chief Economist Philip Lane, and decision-maker Isabel Schnabel will be part of a larger package deal, with Germany, France, and Spain hinting that they have informal rights to permanent seats on the ECB's Executive Board.
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