Spain's main opposition party backs Pablo Hernández de Cos to lead the European Central Bank

Background

Three weeks after Pedro Sánchez's government put forward the former Bank of Spain governor, People's Party leader Alberto Núñez Feijóo gave his support at a European People's Party summit in Brussels. Spain has never led the ECB.

"We need strong institutions. After Christine Lagarde's good performance, we need a reputed economist with proven experience; a great public servant," Feijóo said in Brussels.

— Alberto Núñez Feijóo, People's Party leader

The Netherlands is running Klaas Knot, and according to reports France leans toward him in exchange for Dutch support for a French chief economist. Hernández de Cos now heads the Bank for International Settlements.

Spain, general election

Spain holds a general election on Nov 29, and a deal among euro countries could be needed around December if Lagarde leaves before her term ends in the second half of 2027. With both main parties behind him, his bid survives whoever wins.