Spain PM Sánchez backs De Cos for ECB presidency, entering race

Spanish PM Sánchez officially endorses Bank of Spain Governor Pablo Hernández de Cos as candidate to succeed Christine Lagarde as ECB President, using a US trip to signal support. The endorsement elevates De Cos's candidacy but faces competition from other eurozone figures; outcome uncertain. This matters as ECB leadership will shape monetary policy direction amid ongoing inflation and growth challenges.