"FT": Lagarde is expected to leave the presidency of the European Central Bank before the end of her term

SadaNews - It is expected that the President of the European Central Bank, Christine Lagarde, will resign from her position before the end of her eight-year term in October 2027, according to the "Financial Times".

According to the report, Lagarde prefers to leave the position before the French presidential elections scheduled for April next year, giving French President Emmanuel Macron and German Chancellor Friedrich Merz the chance to agree on a successor, according to a source familiar with her thinking. However, the timing of her potential departure has not yet been decided.

Lagarde has not made her decision yet

A spokesperson for the European Central Bank stated in an email that "President Lagarde is entirely focused on her duties and has not made any decision regarding the end of her term".

Bloomberg reported this week that European governments may seek to expedite the selection of Lagarde's successor, to avoid dealing with the possibility of a far-right French president following the 2027 elections.

The French elections under scrutiny

Typically, this decision is made in the summer preceding the end of the term; however, the risk of Marine Le Pen or her ally Jordan Bardella winning the elections beginning in April 2027 may prompt European leaders to adjust the timeline.

The report added that ECB Executive Board member Isabel Schnabel and Bundesbank President Joachim Nagel are among the names showing interest in succeeding Lagarde in the position.