Christine Lagarde Cuts Speculation Short: My Plan is to Complete My Term at the ECB

European Central Bank President Christine Lagarde gave an interview to The Wall Street Journal, in which she unequivocally addressed circulating rumors about her resignation. She stated that her 'baseline scenario' remains fulfilling the eight-year mandate. Christine Lagarde emphasized that over the past seven years, the bank has achieved much in terms of price stabilization, but this process requires consolidation. Speculation about her departure had political roots – it was suggested that Lagarde could step down earlier to allow the incumbent French President, Emmanuel Macron, to appoint a pro-European successor ahead of next year's elections in France. The European Central Bank was established in 1998 under the Maastricht Treaty, and its main task is to maintain price stability in the eurozone, which is crucial for the cohesion of the monetary union. German Federal Minister of Finance Lars Klingbeil also commented on the situation, calling reports about the ECB chief's departure pure speculation. He noted, however, that when the time comes to choose a successor, Germany will actively participate in the process. Market voices suggest that a potential move by Lagarde to head the World Economic Forum in Davos is just one of many future options being considered, but it is not a current plan of action. Personnel stability in Frankfurt is now seen as a key element of the common currency's credibility in the face of global economic turbulence. „When I look back over all these years, I think we have achieved a great deal. We now need to consolidate it to ensure the foundations are solid and reliable.” — Christine Lagarde Tenure of ECB Presidents: Wim Duisenberg: 5, Jean-Claude Trichet: 8, Mario Draghi: 8, Christine Lagarde (plan): 8 Key Dates for ECB Leadership: 1 November 2019 — Start of Christine Lagarde's term; April 2027 — Presidential elections in France; 31 October 2027 — Formal end of Lagarde's term