Spain nominates Pablo Hernández de Cos for ECB president and Yolanda Díaz for ILO director. Voting will take place in November.
According to elcierredigital.com, the Government and the PP support the candidacy of economist Pablo Hernández de Cos to lead the European Central Bank (ECB), while the Minister of Labour, Yolanda Díaz, aims to head the International Labour Organization (ILO). Both candidacies seek to enhance Spain's presence in bodies that decide on monetary policy, financial regulation, and employment.
The anticipated departure of Christine Lagarde from the presidency of the ECB, scheduled for February 7, 2027, has expedited the selection of her successor. Hernández de Cos, former governor of the Bank of Spain, has been leading the Bank for International Settlements since July 2025, based in Switzerland. His main known rival is the Dutch Klaas Knot, former governor of the central bank of the Netherlands.
Eurozone countries have until November 6 to submit nominations, and the Eurogroup will review the names on Monday 9. The decision will also depend on negotiations between governments regarding geographical and political balances. Spain aims to regain a position on the ECB's executive committee after losing the vice-presidency held by Luis de Guindos.
In the case of the ILO, the vote is scheduled for November 16. Yolanda Díaz is competing against the current director-general, Togolese Gilbert Houngbo, who is considered the favourite, and former Peruvian Foreign Minister Javier González-Olaechea. According to the minister, her campaign has had no cost and has leveraged her institutional agenda to maintain international contacts:
"it has cost zero euros"
The Minister of Agriculture, Luis Planas, aims to lead the FAO, with elections scheduled for June 2027. Doctor María Neira is among the candidates to succeed Tedros Adhanom at the helm of the World Health Organization (WHO).
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