The race for the ECB presidency heats up: France and Germany close to an agreement

France and Germany are nearing an agreement on the division of top European Union leadership posts, with Pablo Hernández de Cos, currently Spain's central bank governor, emerging as a leading candidate for the European Central Bank presidency. The reported deal would see Berlin and Paris share senior roles as the race to succeed Christine Lagarde heats up. The push comes as the ECB navigates a delicate policy path, making the choice of its next president a key signal for euro-area monetary policy direction. Investors will watch for formal endorsements from Paris and Berlin and whether other candidates enter the field before the succession is settled.