Christine Lagarde: Is central bank independence at risk?

"Officially, European Central Bank President Christine Lagarde is not quitting her job early as head of the 21-member eurozone's central bank. However, the Financial Times reported on Wednesday that Lagarde has told people close to her that she is considering stepping down before her eight-year term ends in 2027. According to the FT, Lagarde has been weighing the move for several months and has discussed it with senior European officials."

"The 70-year-old's thinking, the report said, is to leave before France's presidential election in April 2027. That timing would let French President Emmanuel Macron, who can't seek a third term, help choose her successor, along with Germany's Chancellor Friedrich Merz. The goal appears to be to ensure a mainstream, pro-European candidate takes over as chief of the eurozone's central bank, rather than risking influence from a possible newly elected far-right president in France next year."

"Lagarde, who was formerly the first female president of the International Monetary Fund, has not set an exact departure date, according to the report. The London-based business daily said she has not made a final decision and has not communicated any plan to the ECB's Governing Council. Lagarde is "totally focused on her mission and has not taken any decision regarding the end of her term," an ECB spokesperson told DW in a written statement."

Christine Lagarde, president of the European Central Bank, has reportedly been weighing stepping down before her eight-year term ends in 2027 and has discussed the possibility with senior European officials. Leaving before France's April 2027 presidential election would allow outgoing President Emmanuel Macron and Germany's Chancellor Friedrich Merz to influence the selection of a mainstream, pro‑European successor, reducing the risk that a Euroskeptic or far‑right French president could affect ECB leadership. Lagarde has not set an exact departure date, has not made a final decision, and has not communicated any plan to the ECB Governing Council. An ECB spokesperson said Lagarde remains totally focused on her mission and has not taken any decision regarding the end of her term.

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