ECB president needs to be picked on merits, Dutch minister says

The ​choice of the ​next European Central ‌Bank president ​needs to be merit-based, not the result of political ‌discussions and trading of favors, Dutch Finance minister Eelco Heinen said on Monday. The Dutch candidate ‌for the job, Klaas Knot, has ‌an "excellent" track record as former Dutch central bank governor and crisis manager, Heinen said before a ⁠meeting ​with ⁠colleagues from euro zone countries where he would present ⁠Knot's candidacy.

The only other candidate for the job ​is former Spanish central bank governor Pablo Hernandez ⁠de Cos. Heinen did not comment on his ⁠merits, ​but said countries should not see the ECB leadership contest as one between northern ⁠and southern European countries, or as an ⁠opportunity to ⁠extract favors on other topics such as the multi-year EU budget.