Juncker Could Withdraw EC Presidency Bid

Jean-Claude Juncker could pull out of the race for European Commission President, according to diplomatic sources.

The former Prime Minister of Luxembourg was pitted as the favorite after his European People's Party (EPP) won the most seats in the European Parliament in May's elections.

However, with UK Prime Minister David Cameron and Italian PM Matteo Renzi opposing Juncker's nomination, it now looks as though German Chancellor Angela Merkel could also retract her support for him.

Mr Renzi and Mrs Merkel now want to start the process to find a woman who will be a "consensus candidate" to fill the post  and would become the first female to head the commission, The Telegraph reported.

Earlier, IMF chief Christine Lagarde announced that she would not be available for the EC presidency, as some reports suggested.

New names that have emerged as possible nominees are Lithuanian President Dalia Grybauskaite and Danish PM Helle Thorning-Schmidt.

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