The European Central Bank has asked Eurozone leaders to begin selecting Isabelle Schnabel's successor. The request referred the relevant topics to the Eurogroup meeting in October, and the call for candidates for this position may be initiated later. EU leaders plan to finalize three executive appointments at once, including the positions of Schnabel, Christine Lagarde, and chief economist Philippe Lane. Since Schnabel is German, much of the pressure now shifts to Berlin. Germany has just lost in three local elections. The domestic political situation is in turmoil, and personnel nominations still need to be promoted. An ECB spokesperson declined to comment.

The European Central Bank has asked Eurozone leaders to begin selecting Isabelle Schnabel's successor. The request referred the relevant topics to the Eurogroup meeting in October, and the call for candidates for this position may be initiated later. EU leaders plan to finalize three executive appointments at once, including the positions of Schnabel, Christine Lagarde, and chief economist Philippe Lane. Since Schnabel is German, much of the pressure now shifts to Berlin. Germany has just lost in three local elections. The domestic political situation is in turmoil, and personnel nominations still need to be promoted. An ECB spokesperson declined to comment.