Christine Lagarde announces resignation as president of the European Central Bank

Christine Lagarde has officially announced her resignation as President of the European Central Bank (ECB), effective February 7, 2027. She informed the ECB Governing Council and the President of the European Council, Antonio Costa, of her decision to step down from the role she has held since 2019. During her announcement, Lagarde clarified that recent bandages on her face were due to a minor, unrelated surgical procedure.

Following the announcement, Antonio Costa confirmed that the formal process to appoint a successor will begin immediately in accordance with Article 283 of the Treaty on the Functioning of the European Union. While Lagarde’s current term was originally set to expire in October 2027, her early departure has triggered a swift transition process. European officials emphasized their commitment to ensuring stability in monetary policy throughout this period.

Media reports suggest that her departure may be linked to a potential entry into the French presidential race scheduled for April 2027, although this remains speculative. The Governing Council expressed their gratitude for her leadership during a period marked by significant challenges, including the global pandemic, the war in Europe, and energy crises.