European Central Bank President Christine Lagarde is expected to step down before completing her eight-year term in October 2027, according to a report published by the Financial Times, citing a source familiar with her intentions.
The report states that Lagarde intends to leave her post before France’s presidential election in April 2027. It adds that she is also seeking to facilitate discussions between French President Emmanuel Macron and German Chancellor Friedrich Merz on the appointment of her successor at the helm of the ECB.
Macron is due to complete his second term next year and is not eligible to run again for the French presidency.
Reuters noted that it was unable to independently verify the Financial Times report. The ECB did not immediately respond to a request for comment.
Lagarde has led the ECB since November 2019. Prior to that, she served as Managing Director of the International Monetary Fund from 2011 to 2019 and previously held the position of France’s Minister of Economy and Finance.
Source: CNA