Christine Lagarde will resign from the ECB on 7 February 2027

The successor will be appointed by the European Council, according to the procedure provided for in Article 283 of the Treaty on the Functioning of the European Union. The Governing Council "warmly thanked" President Lagarde, giving her a "long round of applause"

"I leave this institution with a sense of good work done and an ECB ready for the future." Thus in a short video released on social media, the president of the ECB, Christine Lagarde, explained her decision to leave office from February 7th, defining the institution as a "rock". For Lagarde "it has been a great honor to serve this institution" and she thanked "everyone who has supported me on this journey over the past seven years". "I have been informed of his intention to resign - announced the President of the European Council Antonio Costa -. I respectfully recognize his decision". The ECB explains that "President Lagarde's successor will be appointed by the European Council in accordance with the appointment procedure provided for in Article 283 of the Treaty on the Functioning of the European Union". The Governing Council "warmly thanked President Lagarde and gave her a long standing ovation".

"Smooth transition"

"Europe has been well served by his leadership in uncertain times and his unwavering commitment to the European project - underlined Costa -. Through a global pandemic, a war in Europe, energy crises and inflationary shocks, he has provided stable and determined leadership, helping to safeguard the stability and resilience of the euro area". Work begins today to identify a successor in Frankfurt. "To ensure a smooth transition to the next leadership of the ECB - he concluded - the process for the nomination of his successor will be launched today and will proceed without delay, with a view to a timely decision by the European Council acting in its composition of the euro area, in accordance with the procedure provided for in Article 283 (2) of the Treaty on the Functioning of the European Union".

Thanks from the Eurogroup

"I would like to thank Christine Lagarde for her mandate at the helm of the European Central Bank - declares the President of the Eurogroup, Kyriakos Pierrakakis -. On behalf of the Eurogroup, I express my sincere gratitude to Christine Lagarde for her exceptional contribution to the stability of the euro area and for the leadership demonstrated in this difficult economic period". And again: "Our common currency constitutes the foundation of the euro area and guarantees its economic stability. The euro represents a milestone in the process of European integration and one of its most tangible and precious elements. Christine Lagarde's mandate at the helm of the ECB has done nothing but strengthen confidence in the single European currency. The Eurogroup will act promptly to prepare the recommendation of the Council of the EU to the European Council regarding the nomination".