Lagarde to leave ECB in 2027, digital euro project pending
6.8 Banking Christine Lagarde will step down as ECB President on February 7, 2027, leaving projects like the digital euro—potentially issued in 2029—pending for her successor.
Christine Lagarde has announced her decision to step down as President of the European Central Bank (ECB) on February 7, 2027, nearly nine months before her term was originally set to end. This early departure initiates the process for selecting her successor, who will be appointed by the European Council according to established procedures. During her tenure, Lagarde navigated the ECB through significant challenges, including the COVID-19 pandemic, record inflation in the eurozone, and a series of interest rate hikes. Her leadership also oversaw the advancement of key projects such as the digital euro and the expansion of infrastructures for tokenized assets and AI-powered payments. The digital euro pilot is scheduled for the second half of 2027, with the first issuance possible in 2029 if legislation is approved in 2026. Lagarde’s departure means her successor will oversee the final stages of these initiatives. The announcement has not notably affected the euro’s market price.
