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2026-02-19 18:13:52
[Lagarde Hints at Resignation Not Imminent, But Independence Questions Remain] ⑴ Four sources revealed that European Central Bank President Christine Lagarde has sent private messages to her colleagues, indicating that she remains focused on her duties and will inform them first if she decides to step down. Recipients generally interpret this as Lagarde not resigning in the short term. An ECB spokesperson declined to comment. ⑵ The Financial Times previously reported that Lagarde plans to step down before next year's French presidential election to allow outgoing President Macron to participate in the selection of a new governor. Current polls suggest that the Eurosceptic far-right party is likely to win. ⑶ Some policymakers were surprised by this rumor, as there is still more than a year until the 2027 French elections and the end of Lagarde's term next October. The Governor of the Bank of France announced his early resignation last week to make room for Macron to appoint a successor. ⑷ The ECB believes that the series of actions in France are aimed at ensuring that whoever wins the election will elect a competent and independent central bank governor. However, the far-right National Rally condemned the move as "anti-democratic." Sources indicate that if Lagarde resigns prematurely to strip Macron's successor of his voice, her own independence will also be questioned.
