France and Germany said to eye Lagarde for ECB and von der Leyen for EC president

German defense minister Ursula von der Leyen may end up as European Commission President while IMF head Christine Lagarde may become new president of the European Central Bank following an agreement between France and Germany, said sources.

One diplomatic source with knowledge of the matter said French President Emmanuel Macron had proposed to his German counterpart Angela Merkel that Lagarde should get the top ECB job.

The source added that Merkel was “very positive” on the idea of Lagarde heading the ECB. [Reuters]