‘European Central Bank. Double christening.’ On 5 May 1998, German cartoonist Gabor Benedek illustrates the heightened tensions between France and Germany on the question of the appointment of the President of the European Central Bank. At the Brussels European Council of 2 May 1998, French President Chirac argues strongly for a French appointment to the post, Jean-Claude Trichet. After a day of negotiations with German Chancellor Helmut Kohl, a solution is found: Dutchman Wim Duisenberg agrees not to serve his full eight-year term but to stay in the post until the transition to the euro before handing over to Jean-Claude Trichet.