Lagarde says early ECB exit possible as she considers French politics
10 reported
European Central Bank President Christine Lagarde has not ruled out leaving her post early to enter French politics, according to an interview with French newspaper Les Echos. Lagarde, whose term ends in October 2027, said an early departure is “possible” ahead of France’s 2027 presidential election. She stated that a European voice should be heard in the French presidential debate, particularly if a candidate’s platform would diminish France’s place in Europe. When asked if she would consider personal involvement in the campaign, Lagarde said she would “ask myself some questions.” The ECB declined to comment on her remarks when approached by CNBC. The French government is currently attempting to pass budget cuts of at least 4 billion euros to reduce its public deficit to 3% of GDP by 2029.
What’s reported
Christine Lagarde’s term as ECB President ends in October 2027.
Lagarde told Les Echos an early departure is “possible” ahead of the 2027 French presidential election.
She said: “I think a European voice must be heard in the French presidential debate.”
Asked about personal involvement in the campaign, Lagarde said: “I’m going to ask myself some questions.”
The first round of voting will take place in April 2027, with a runoff if no candidate wins 50%.
Jordan Bardella of the National Rally party is the frontrunner in polls to replace President Emmanuel Macron, who is not running for re-election.
The euro sold off in February after a Financial Times report that Lagarde was considering an early exit; the ECB said at the time no decision had been made.
The ECB declined to comment on Lagarde’s latest remarks.
The French government is attempting to pass budget cuts of at least 4 billion euros ($4.6 billion) to reduce its public deficit to 3% of GDP by 2029.
French Finance Minister Roland Lescure said debates around the 2027 election must not interfere with passing this year’s budget.
Key figures
Christine Lagarde, ECB President
Jordan Bardella, leader of the National Rally party
Emmanuel Macron, French President (not running for re-election)
Roland Lescure, French Finance Minister
Sources: CNBC
