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Mario Draghi’s successor as European Central Bank President on Oct. 31 is a process steeped in secrecy. Favorites include Bank of Finland chief Olli Rehn, his predecessor Erkki Liikanen, Estonian Ardo Hansson, France's Benoit Coeure & Francois Villeroy de Galhau and Bundesbank chief Jens Weidmann.

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Likely European Central Bank Presidents After Draghi

  • Bank of Finland chief Olli Rehn,
  • Former Bank of England Erkki Liikanen,
  • Estonian Central Bank chief Ardo Hansson
  • French ECB board member Benoit Coeure
  • French central bank chief Francois Villeroy de Galhau  Germany's  Bundesbank chief Jens Weidmann.

Of note is the high ranking of the 'Finno States" Finland and Estonia in the favoured ranking. This has much has to do with the two nations terms when they joined the Euro, their recoveries after the 2009 GFC and their perserverance with the constant Russian threat.

Finland's central bank governor Olli Rehn and ECB rate setter commented Saturday in Finland’s Helsingin Sanomat newspaper. “I trust that EU decision makers will find a person for the job who will be able to manage it even through tight spots which will also come,”

Markets will focus on candidates views on the Euro. Draghi in 2012 said to do “whatever it takes” to save the euro. “The governor has to be both qualified in monetary and financial policy as well as capable of team play,” Rehn said. Germany is always the one to beat given their status in the EU.

Rehn in his interview paraphrased former England soccer player Gary Lineker’s "in the end, the Germans always win, although no German has so far held the top ECB job." “It’s good to remember that even Germany can be beaten. You can ask Antonin Panenka about it,” Rehn added, referring to the former Czech footballer who scored the winning goal against West Germany in the 1976 final of soccer’s European Championships. Before Draghi former Bank of France's Claude Trichet was chief.

Does that mean the next ECB chief will be Estonian or Finnish, perhaps appropriate with the end of Game of Throwns which was reportedly bassd on Estonian and Finnish mythology or will Germany finally get up?

From The TradersCommunity Research Desk

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