We have been writing about it for months, but now certain sharp minds in the journalistic market have finally discovered it. Namely, that Kyriakos Mitsotakis, despite his answers in interviews, always had in mind the scenario of escaping to Brussels, eying the position of Christine Madeleine Odette Lagarde at the ECB.
The two explosive reasons
The scenarios are now proliferating for two distinct reasons. First, the Prime Minister realizes from the opinion polls he holds that his dream of remaining in Maximos Mansion for a third term is off the table. He is closer than ever to an eviction. The second reason is that he is trying, even at the eleventh hour, to avert plans for his removal by promising to the party contenders challenging him—who will seek his overthrow on election night—that he is ready to step down.
Gaining time
Kyriakos Mitsotakis is simply trying to buy time. This is precisely why Dora Bakoyanni stepped up to attack arrogant ministers instead of blaming the sole person responsible for this situation, who is the Prime Minister himself and the Maximos Mansion inner circle issuing the orders. It is no coincidence that the Prime Minister, speaking from America, referred to the stakes of the upcoming elections and his blueprint for Greece 2030 while addressing an Endeavor Greece event titled "The Future of AI Elsewhere" in San Francisco, held on the sidelines of his presence in the US for the UN General Assembly. "Every electoral contest must be about the future and not the past," emphasized the Prime Minister, noting that the government is entering the final year of its mandate. As he stated, his goal is to present his vision for Greek progress, while underlining that the advancements made could prove fragile.
"I hope I can"
Referring to the upcoming general election, he essentially reiterated his intention to continue his political course, noting that he must convince voters he still possesses "energy, drive, ideas, and experience" to lead the country forward. As he stressed, "Every election is difficult, especially when you have been in power for quite a while. You have to convince citizens that you still have the energy, the drive, the ideas, and the experience—and political experience matters—to keep moving the country forward. I hope I will be able to do that by the next elections."
Back on the market table
Nevertheless, rumors regarding the potential early departure of Christine Lagarde from the presidency of the European Central Bank (ECB) have been circulating with increasing intensity in media circles, with discussions over her succession already taking on European dimensions. Within this puzzle, the name of Kyriakos Mitsotakis has also surfaced. The mandate of Christine Lagarde officially concludes on October 31, 2027, as she assumed the presidency of the ECB on November 1, 2019. However, information regarding a possible earlier departure has intensified over recent months.
Lagarde and the... we shall see
Indeed, Lagarde herself has not definitively closed the door. In a recent interview with RTE, when asked whether she would remain until October 2027, she characteristically replied "we shall see," while reiterating that she will leave the ECB presidency sometime during 2027. The interest lies not only in whether and when Christine Lagarde will step down. It centers primarily on who will replace her in the most powerful monetary policy role in the Eurozone.
The candidate successors
Behind-the-scenes deliberations have already begun. Reuters has reported that France appears willing to support former Dutch central bank governor Klaas Knot for the presidency of the ECB as part of a broader deal over top institutional posts. Names being discussed also include the governor of the Bank of Spain and current head of the BIS Pablo Hernández de Cos, Germany's Joachim Nagel, and European Investment Bank President Nadia Calviño. The picture is further complicated by the fact that in 2027 other crucial mandates at the ECB expire, including that of chief economist Philip Lane in May and Isabel Schnabel at the end of the year. This opens the door for a comprehensive redistribution of top European posts.
The Mitsotakis scenario
It is within this exact environment that the scenario placing Kyriakos Mitsotakis under consideration for a top European office—or even the presidency of the ECB, should the selection process open early—takes shape. As 2027 approaches, the discussion takes two parallel tracks: who will lead the ECB and who will claim the next governing mandate in Greece. And should these two developments coincide chronologically, the name of Kyriakos Mitsotakis is expected to remain on the table of European scenarios, even if he attempts to close the matter himself.
By Peiraiarchis
www.bankingnews.gr
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