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The ECB's Next Big Decision Will Impact Mario Draghi's Successor

  • Applications for the next SSM chair will close on Aug. 24
  • Whichever country wins probably can’t get the ECB presidency
Mario Draghi

Mario Draghi

Photographer: Alex Kraus/Bloomberg

The European Central Bank’s next big appointment will cast a shadow that’s long enough to influence who succeeds Mario Draghi as president.

Applications to follow France’s Daniele Nouy as head of banking supervision are due to close this month. The position is the most powerful for which ECB policy makers get to name a candidate -- other top jobs are the gift of governments -- and the timing makes it an unusually politically loaded decision.