European Central Bank President Christine Lagarde will resign Feb. 7, ahead of term
FRANKFURT, Germany — European Central Bank President Christine Lagarde will resign Feb. 7, nine months ahead of the end of her 8-year term, the ECB said Thursday. The resignation opens the way for European leaders to choose a successor for the ECB president and other top officials whose terms are ending next year. There had been speculation that Lagarde would leave early to enable EU leaders to…
European Central Bank (ECB) President Christine Lagarde announced her resignation, effective February 7, marking nine months before the conclusion of her eight-year tenure. The ECB disclosed this information on Thursday. This development paves the way for European authorities to select a successor for the ECB president and other key officials whose terms are set to expire next year.
There had been speculation that Lagarde would step down early to facilitate EU leaders' decision-making process while pro-European Union (EU) French President Emmanuel Macron is still in power. Moreover, this move aims to prevent the right-wing presidential candidate Marine Le Pen from potentially influencing the choice if she were to win the upcoming election.
Lagarde, a former head of the International Monetary Fund (IMF), assumed her role at the ECB in 2011, succeeding Mario Draghi.
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