The Financial Times reports rumors of a possible departure before the French presidential elections in 2027. Frankfurt has issued a denial.
According to the Financial Times, European Central Bank President Christine Lagarde may be considering stepping down from her position before the natural end of her mandate, scheduled for October 2027.
Lagarde has been leading the ECB since November 2019, when she left the International Monetary Fund to succeed Mario Draghi. Her term is set for eight years, but according to a source close to her circle—interviewed by the Financial Times—the President has reportedly considered stepping aside before the French electorate goes to the polls in April 2027.
The objective, according to the reports, would be to give both French President Emmanuel Macron and German Chancellor Friedrich Merz enough time to identify and agree on a consensus candidate to lead one of the European Union’s most influential institutions, without having to operate under the pressure of an election campaign.
However, a spokesperson for the Frankfurt-based institution has ruled out that the President has made any formal decision regarding her professional future, emphasizing that Lagarde remains fully focused on her current mandate.
The issue is potentially urgent mainly due to the French political context. According to Bloomberg, Eurozone governments fear having to manage the ECB presidency succession at a particularly sensitive moment: that following potential French presidential elections that could bring a far-right candidate to power. An accelerated search for a successor, made possible by voluntary and coordinated resignation by Lagarde, would allow European governments to secure the choice within the traditional Franco-German axis, preserving the continuity of the ECB’s monetary orientation.
The Financial Times has already ventured some names. Isabel Schnabel, member of the ECB Executive Board, is reportedly among the profiles in the running for the role. Alongside her, Joachim Nagel, President of the Bundesbank, has expressed willingness to assume leadership of the institution.
