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European Central Bank (ECB) President Christine Lagarde has said she will leave the central bank in 2027, confirming that she does not intend to remain in the role beyond that year.
“I will leave in 2027. I will say no more than that,” Lagarde said in an interview with Ouest-France on September 12, when asked whether she would serve out her term at the ECB, which is due to end in October 2027.
Asked whether she was considering a return to national politics after leaving the ECB, Lagarde ruled that out.
“No. I’ll be turning 71 soon, you know. You have to know when to call it a day,” she said.
Lagarde’s comments come amid speculation over who could eventually succeed her as head of the ECB. According to a report by Reuters, France could back former Dutch central bank chief Klaas Knot for the ECB presidency as part of a possible arrangement under which a French candidate would be selected for the position of chief economist.
According to a report by Reuters, Lagarde’s term runs until October 2027, although rumours of an early resignation have persisted for much of this year.
Lagarde, born on January 1, 1956, in Paris, France, has been President of the ECB since November 2019. She also serves as Chair of the European Systemic Risk Board and is a member of the Board of Directors at the Bank for International Settlements, as well as the G7 and G20.
Before taking charge of the ECB, Lagarde served as Managing Director of the International Monetary Fund from 2011 to 2019. She previously held several senior government positions in France, including Minister of Economy and Finance from 2007 to 2011, Minister of Agriculture and Fisheries in 2007 and Minister of Trade from 2005 to 2007.
Her career also includes a long stint in international law. From 1999 to 2005, she was Global Chairman of international law firm Baker McKenzie in Chicago, after serving as a member of its Global Executive Committee and Managing Partner of its Paris office from 1995 to 1999. She practised law from 1981 to 1999, focusing mainly on commercial law, mergers and acquisitions, antitrust, labour law and arbitration for international corporate clients.
Lagarde holds a Master with a major in Economics and Finance from Sciences Po Aix-en-Provence, a Master in American Literature from Avignon Art College and a Master in Commercial Law, with a DESS in Commercial and Labour Law, from University Paris X Law School. She also lectured in contract law at University Paris X Law School from 1980 to 1982.
Her tenure at the ECB has also seen her address inflation, interest rates and economic risks facing the euro area. In her September 12 interview, Lagarde said the ECB’s task was to maintain price stability and noted that inflation in the euro area was at 3.3%, above the ECB’s 2% medium-term target.
With Lagarde set to leave in 2027, attention is now turning towards the candidates who could eventually take over as ECB president.
“I will leave in 2027. I will say no more than that,” Lagarde said in an interview with Ouest-France on September 12, when asked whether she would serve out her term at the ECB, which is due to end in October 2027.
Asked whether she was considering a return to national politics after leaving the ECB, Lagarde ruled that out.
“No. I’ll be turning 71 soon, you know. You have to know when to call it a day,” she said.
Lagarde’s comments come amid speculation over who could eventually succeed her as head of the ECB. According to a report by Reuters, France could back former Dutch central bank chief Klaas Knot for the ECB presidency as part of a possible arrangement under which a French candidate would be selected for the position of chief economist.
According to a report by Reuters, Lagarde’s term runs until October 2027, although rumours of an early resignation have persisted for much of this year.
Christine Lagarde profile
Lagarde, born on January 1, 1956, in Paris, France, has been President of the ECB since November 2019. She also serves as Chair of the European Systemic Risk Board and is a member of the Board of Directors at the Bank for International Settlements, as well as the G7 and G20.
Before taking charge of the ECB, Lagarde served as Managing Director of the International Monetary Fund from 2011 to 2019. She previously held several senior government positions in France, including Minister of Economy and Finance from 2007 to 2011, Minister of Agriculture and Fisheries in 2007 and Minister of Trade from 2005 to 2007.
Her career also includes a long stint in international law. From 1999 to 2005, she was Global Chairman of international law firm Baker McKenzie in Chicago, after serving as a member of its Global Executive Committee and Managing Partner of its Paris office from 1995 to 1999. She practised law from 1981 to 1999, focusing mainly on commercial law, mergers and acquisitions, antitrust, labour law and arbitration for international corporate clients.
Lagarde holds a Master with a major in Economics and Finance from Sciences Po Aix-en-Provence, a Master in American Literature from Avignon Art College and a Master in Commercial Law, with a DESS in Commercial and Labour Law, from University Paris X Law School. She also lectured in contract law at University Paris X Law School from 1980 to 1982.
Her tenure at the ECB has also seen her address inflation, interest rates and economic risks facing the euro area. In her September 12 interview, Lagarde said the ECB’s task was to maintain price stability and noted that inflation in the euro area was at 3.3%, above the ECB’s 2% medium-term target.
With Lagarde set to leave in 2027, attention is now turning towards the candidates who could eventually take over as ECB president.
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