adNov 6, 2026, 17:18

Battle for ECB presidency now officially between the Netherlands and Spain

The race for the presidency of the European Central Bank has officially come down to Klaas Knot of the Netherlands and Pablo Hernández de Cos of Spain. With the nomination deadline passed, finance ministers will begin the formal selection process next week, aiming to appoint a successor to Christine Lagarde by mid-December.

The race to succeed Christine Lagarde as president of the European Central Bank has officially narrowed to two candidates: Klaas Knot from the Netherlands and Pablo Hernández de Cos from Spain. The deadline for nominations passed on Friday without any additional contenders entering the field, despite earlier speculation that smaller nations might propose alternative candidates. The Eurozone countries must now navigate a formal selection process that requires a candidate to secure support from at least 16 of the 21 member states, representing at least 65 percent of the total population.

Finance ministers are scheduled to discuss the shortlist when they meet in Brussels this coming Monday. The selection procedure also mandates consultation with the European Parliament before a final decision is made by the European Council, which is anticipated by mid-December. Knot, who led De Nederlandsche Bank for fourteen years, and Hernández de Cos, the former head of the Bank of Spain, are vying to take over the position in February following Lagarde's early departure.

Politics Economy Business Netherlands

Read original ↗

Based on reporting by ad. Translated and condensed by LocalHeadlines.

Cyber threats are evolving too quickly for businesses and governments

The NCTV warns that cyber threats from state actors and criminals are outpacing the digital resilience of organizations in the Netherlands. The report highlights that inadequate resources and the rapid adoption of AI by attackers significantly increase the risk of large-scale sabotage, espionage, and data theft.

Facts and myths about the millionaire's tax: economist Aart Gerritsen explains what does and does not work

Political parties PRO and Volt have introduced a proposal to generate 1.5 billion euros through a new tax targeting the wealthy. Economist Aart Gerritsen is currently evaluating the feasibility and potential effectiveness of this proposed millionaire tax.

Alderman must fix budget error again: general reserve estimated too optimistically

The Amsterdam municipality has discovered a budgetary error resulting in a general reserve shortfall of 70 to 140 million euros. Finance Councilor Hendrik Jan Biemond has apologized for the lapse and pledged to improve internal controls following a series of recent fiscal mistakes.

Gas prices plummet after US Democrat gains, but remain high for consumers

Gas prices on the TTF exchange have fallen by 16 percent since last Friday, fueled by market optimism following the Democratic party's gains in US midterm elections. While this could lead to significant annual savings for consumers, experts warn that retail prices may not drop immediately due to supplier delays and ongoing market volatility.

Why part of the Amsterdam city council wants to sell Schiphol shares worth up to 1 billion euros – and why this professor thinks it is a bad idea

Members of the Amsterdam city council are debating whether to sell the city's stake in Schiphol Airport, which could be worth as much as 1 billion euros. Supporters believe the funds would be better spent elsewhere since the city has limited influence over the airport, but some experts warn that selling the shares is a bad idea.