The head of the European Central Bank, Christine Lagarde, stated that she intends to serve until the end of her eight-year term, which expires in October 2027. This declaration is a reaction to media reports suggesting her early resignation. The speculation was linked to fears of the far-right coming to power in France and possible plans for Lagarde to take over leadership at the World Economic Forum.

Lagarde Stays at the ECB

The central bank president announced she will fulfill her mandate until October 2027, cutting off rumors of her departure.

Political Background in France

A potential resignation was said to allow for the selection of a successor before a possible victory of the far-right in the presidential elections.

Germany's Opposition to Rumors

Finance Minister Lars Klingbeil deemed the reports speculative, though he promised a swift response in the event of a real succession.

Postponed Italy-France Summit

The Macron-Meloni meeting was moved from April to June following an intervention by the Italian side.

European Central Bank President Christine Lagarde firmly addressed media reports circulating about her alleged planned departure from her position. In an interview with "The Wall Street Journal," she emphasized that her "base scenario" is to complete her full, eight-year mission in Frankfurt. She explained that her goal remains consolidating the bank's achievements in price stability and ensuring the durability of the implemented financial reforms. Earlier reports by the "Financial Times" suggested that Lagarde could resign prematurely to enable President Emmanuel Macron to appoint a pro-European successor before next year's presidential elections in France. German Finance Minister Lars Klingbeil also weighed in on the matter, describing the reports of her resignation as baseless speculation. Nevertheless, he noted that Berlin would actively participate in the process of selecting a successor when the appropriate time comes. In the corridors of European institutions, concern has been growing that the unclear situation surrounding the ECB's leadership could weaken the bank's authority at a crucial moment in the fight against inflation. Lagarde also admitted that the role of head of the World Economic Forum is one of many options she is considering, but only after finishing her current job. The European Central Bank was established in 1998 to manage the common euro currency and maintain price stability in the eurozone. The ECB President is appointed for a single, non-renewable, eight-year term, which is meant to guarantee the institution's independence from current political pressures of member states. Meanwhile, in bilateral relations between Paris and Rome, there has been a significant shift in dates. The planned intergovernmental summit in April involving Giorgia Meloni and Emmanuel Macron has been postponed to June, after the conclusion of the G7 summit in Evian. Although officially the reason is scheduling issues, commentators point to tensions between the leaders of both countries. The Italian Prime Minister reportedly requested a change of date during talks in Belgium in February, which the French side accepted, declaring a willingness to continue implementing the Quirinal Treaty. „When I look back at all these years, I think that we have accomplished a lot, that I have accomplished a lot. We need to consolidate and make sure that this is really solid and reliable.” — Christine Lagarde

Mentioned People

  • Christine Lagarde — President of the European Central Bank since 2019.
  • Emmanuel Macron — President of France, aiming to strengthen European integration.
  • Lars Klingbeil — German politician, Minister of Finance (according to article content).
  • Giorgia Meloni — Prime Minister of Italy, leader of the Brothers of Italy party.