Suryaa Business Desk: The choice of the next chief of the European Central Bank (ECB) is not limited to monetary policies, it will also shape the political future of France... The selection of the next chief of the European Central Bank (ECB) is not limited to monetary policy but will play a crucial role in determining France's political future, say leading economic analysts. The latest reports suggest that Europe's political equations are tied behind the next leadership change that will take place at the top of the Eurozone economy. The issue will become a major topic of discussion in the European Union in the coming days as the current chief Christine Lagarde's term comes to an end.
Analysts say that as important as controlling interest rates and inflation in the eurozone are the strategies of France's top leaders to dominate Paris politics. France has always wanted to prove its hold on the international financial stage by securing the ECB presidency, but the appointment is under intense tension because of the changing domestic political situation. Experts point out that the eurozone's future monetary policies will depend on who takes on this supreme responsibility of safeguarding Europe's financial stability. Economists say global financial markets are predicting future political developments through changes in central bank leadership, not just interest rate announcements.
Competition between political parties in France and coordination among European Union countries are expected to play a decisive role in this leadership choice. The upcoming lobbying for the post of ECB chief is likely to open up new equations in European politics.