European Central Bank chief to step down ahead of schedule
Christine Lagarde's term of office was supposed to end in October 2027.
Head of the European Central Bank to leave office prematurely
Head of the European Central Bank Christine Lagarde is leaving her post ahead of term. According to the bank's press service, Lagarde will resign on February 7, 2027. Lagarde informed the ECB Governing Council and President of the European Council António Costa about this.
Reuters reminds that Christine Lagarde's term of office was supposed to end in October 2027.
Lagarde's departure will allow French President Emmanuel Macron and German Chancellor Friedrich Merz to resolve the issue of appointing a new leader before the elections in France in April 2027, writes dpa agency. Her possible early departure had been known for a long time. The agency specifies that right-wing populists led by Marine Le Pen could win the elections in France, which could complicate the appointment of the ECB's new leadership.
Earlier, DW noted that the goal of Lagarde's premature resignation might be to ensure the election of a candidate with pro-European moderate views to the post of ECB head.
At the same time, experts emphasized that even a voluntary early departure from office could raise concerns regarding the ECB's independence. The bank must operate without political interference, and its mandate is aimed at ensuring price stability, which is protected by the treaties establishing the European Union. Analysts expect the bank's monetary policy to remain unchanged in the near term.
According to Reuters, Lagarde may move to work at the World Economic Forum. President of the European Council Costa announced that the process of determining a candidate to replace Lagarde will begin as early as October 29.