Claes Knott is one of two candidates for the next ECB president. He told the media that if he gets the job, he is willing to develop new tools that may be critical to dealing with Europe's debt crisis. Nott said he is ready to use the ECB's existing crisis response tools, including buying bonds. “We will not hesitate to intervene if the situation requires it”. The 59-year-old Dutchman was the governor of the Dutch central bank from 2011 to 2025. On Friday, the Netherlands officially nominated him to replace Lagarde, who will leave the ECB in early February. Knott has not ruled out the possibility of developing more tools to deal with the crisis in the future. He said that if the next crisis is “different in nature” from the previous crisis that led to the birth of existing tools, “I don't even rule out that we will design another more targeted tool.”

Claes Knott is one of two candidates for the next ECB president. He told the media that if he gets the job, he is willing to develop new tools that may be critical to dealing with Europe's debt crisis. Nott said he is ready to use the ECB's existing crisis response tools, including buying bonds. “We will not hesitate to intervene if the situation requires it”. The 59-year-old Dutchman was the governor of the Dutch central bank from 2011 to 2025. On Friday, the Netherlands officially nominated him to replace Lagarde, who will leave the ECB in early February. Knott has not ruled out the possibility of developing more tools to deal with the crisis in the future. He said that if the next crisis is “different in nature” from the previous crisis that led to the birth of existing tools, “I don't even rule out that we will design another more targeted tool.”