Eurozone leaders will meet on November 26-27 to discuss the candidate for European Central Bank President.

European Council President Antonio Costa said euro area leaders will meet in Brussels on November 26-27 to discuss a successor to the European Central Bank president after Christine Lagarde announced plans to step down. Lagarde said on Thursday that she intends to step down on February 7. Costa said that given the tight timeline, European leaders need to select a successor in December, which means a candidate needs to be chosen in November. EU leaders are already scheduled to meet on those dates. The European Parliament and euro area finance ministers will also take part in the selection process for the new president.