(Feb 18): European Central Bank (ECB) president Christine Lagarde is expected to step down from her role before her eight-year term ends in October 2027, the Financial Times (FT) reported.
Lagarde wants to leave before the French presidential election in April next year, which will allow French President Emmanuel Macron and German Chancellor Friedrich Merz to find her replacement, the report said, citing an unidentified person familiar with her thoughts on the matter. It isn’t clear yet when she may exit, the report said.
“President Lagarde is totally focused on her mission and has not taken any decision regarding the end of her term,” an ECB spokesperson said in an emailed statement.
European governments may choose to fast-track finding a successor for Lagarde to avoid having to deal with a possible far-right French president after 2027 elections, Bloomberg reported this week.
A decision would typically be taken in the summer before her term ends, but the looming threat of a victory of Marine Le Pen or her protege, Jordan Bardella, in ballots starting in April 2027 in France could push European leaders to adjust their timetable.
ECB executive board member Isabel Schnabel and Bundesbank president Joachim Nagel are said to be keen to replace Lagarde, the report said.
See also: Japan’s exports rise most in three years as AI underpins chips
Uploaded by Liza Shireen Koshy
