European Central Bank (ECB) President Christine Lagarde reportedly plans to leave her position earlier than expected and before next year's French presidential election to allow Emmanuel Macron to have an input into picking her successor, the Financial Times (FT) reported on Wednesday.
Lagarde's term is due to end in October 2027, but some fear that the far right may win the French presidential race in the spring of 2027, complicating the selection for the new leader of Europe's most important financial institution.
Citing a person familiar with the matter, the FT said Lagarde has not yet decided on the exact timing of her departure but was keen on Macron and German Chancellor Friedrich Merz to be the key deciders in who succeeds her. Macron cannot run again for a third term.
"President Lagarde is totally focused on her mission and has not taken any decision regarding the end of her term," an ECB spokesperson told Reuters.
Lagarde's non-renewable term at the ECB runs until Oct. 31, 2027. Before heading the ECB, she was managing director of the International Monetary Fund (IMF) from 2011 to 2019 and before that, the French finance minister.
