The Dutch cabinet has officially thrown its support behind Klaas Knot, the former president of De Nederlandsche Bank, in the race to succeed Christine Lagarde as president of the European Central Bank.
The endorsement provides Knot with crucial political backing from his home country as the selection process enters a critical phase.
Knot, who stepped down from the Dutch central bank earlier this year, has long been viewed as a leading contender for the ECB’s top post.
His extensive experience within the Eurosystem and his reputation for clear communication have made him a favorite among market observers.
The formal backing from The Hague strengthens his position against other potential candidates vying for the role.
The succession of Lagarde, whose term is set to expire, is one of the most significant policy events on the European calendar.