France is reportedly considering backing Dutch central banker Klaas Knot for the role of President of the European Central Bank (ECB), on the condition that the position of chief economist at the ECB is given to a French candidate. This information comes from sources close to the discussions, and it is said that French President Emmanuel Macron supports the idea, although the Elysée Palace has not officially commented on the matter. Knot, who led the Dutch central bank from 2011 until his recent departure in 2025, has not yet responded to inquiries about the potential nomination. The Dutch Ministry of Finance has also not provided an immediate response, and the ECB has declined to comment on the reports. Speculation about leadership changes at the ECB has grown in recent weeks, fueled by rumors that current President Christine Lagarde and German central banker Isabel Schnabel, a member of the ECB’s executive board, may leave before the end of their terms in 2027. If these reports are true, it could lead to a significant reorganization at the top of the central bank. The ECB president and five other board members are typically chosen by consensus among the leaders of the 21 eurozone countries. In practice, the three largest economies—Germany, France, and Italy—have a strong influence, ensuring their representation on the board. Klaas Knot is seen by financial markets as a pragmatic leader who favors a restrictive monetary policy, but who is also willing to adapt based on economic data. A French official described him as “a hawk but in an intelligent way,” suggesting that he would be tough on inflation but not overly rigid in his approach. His main rival for the ECB presidency is Pablo Hernández de Cos, the former governor of the Bank of Spain, who is also seen as a strong candidate for the role. The selection of the ECB president is a highly political process, reflecting the balance of power among the eurozone’s major economies.