Foreign affairsGermany Official institution
Lagarde to step down as ECB president on 7 February 2027
Christine Lagarde has told the European Central Bank's governing council and European Council President António Costa that she will resign as ECB president on 7 February 2027. Her successor will be chosen by the European Council through the treaty-based nomination process. The ECB Council publicly thanked her with a long standing ovation.
What does it mean?
The person who leads the euro area's central bank is leaving her job. Christine Lagarde will stop being president on 7 February 2027, so a new president will need to be picked before then.
Who is affected?
Euro area residents and businesses, as well as the ECB's staff and governing bodies, since the central bank will get a new leader.