Rumor has it that the German government is already lobbying hard behind the scenes for a German to become the next ECB president after Christine Lagarde’s term ends in 2027.

Berlin favors both Joachim Nagel, the current Bundesbank chair, and Isabel Schnabel, current member of the ECB’s executive board, over other candidates such as Klaas Knot (former Dutch central bank governor) and Pablo Hernandez (former Spanish central bank governor).

No German has ever been appointed as ECB president and Berlin feels that the time is now right.

However, with Ursula von der Leyen (President of the European Commission and de facto ruler) in place, securing another German in the most influential Eurozone job will be difficult.