ECB boss Lagarde resigns early in February

Christine Lagarde steps down early as President of the European Central Bank. The Frenchwoman will leave her post on February 7, 2027, the ECB announced. Lagarde's eight-year term would end at the end of October 2027.

The heads of state and government of the 21 euro states are now called upon to regulate the Frenchwoman's successor earlier. Lagarde's departure will enable outgoing French President Emmanuel Macron and Chancellor Friedrich Merz (CDU) to clarify the replacement of one of the most important top positions in Europe before the election in France.

Concerns about the electoral success of Eurocritical forces

Lagarde's resignation does not come as a surprise; there have been rumors of an early departure for a long time. As early as February 2026, the Financial Times reported that Lagarde wanted to withdraw before the presidential election in France in April 2027. The background is concerns that Euro-critical right-wing populists led by Marine Le Pen could win the elections in the second largest euro economy, which could make it more difficult to fill the top of the ECB.

Macron is not allowed to run again in the presidential election. In an interview in September, Lagarde confirmed for the first time that she was considering leaving the ECB "a few months" earlier.