Christine Lagarde leaves the central bank on 7 February.

She goes nine months early, with the deposit rate at 2.5% in October, and leaders must fill two more board seats.

Ministers recommend, European Parliament holds a hearing, leaders decide, and France, Germany, Spain and the Netherlands are likely to negotiate the three seats as a package, officials said.

Klaas Knot and Pablo Hernández de Cos are the candidates, and leaders aim to decide by year’s end.

How each outlet framed it
Deutsche Welle
Reuters
names the other two Executive Board seats in play: Schnabel leaving January 3, 2027 and Lane's term ending May 2027
Bloomberg Business

Sources: Deutsche Welle, Reuters, Bloomberg Business