Lagarde to leave ECB in 2027, digital euro pending
6.8 Banking Christine Lagarde will step down as ECB President on February 7, 2027, ahead of schedule, leaving digital euro and other key projects for her successor.
Christine Lagarde has announced her resignation as President of the European Central Bank (ECB), effective February 7, 2027—almost nine months before her term was due to end. This move triggers the process for selecting her successor, who will be appointed by the European Council following established procedures. Lagarde’s tenure was marked by significant challenges, including the COVID-19 pandemic, record inflation in the eurozone, and a series of interest rate hikes. Her departure comes as the ECB is advancing major initiatives such as the digital euro, which could be issued in 2029 if legislation is approved in 2026. The digital euro pilot is set for the second half of 2027, meaning Lagarde will leave this project in the hands of her successor. The announcement has not significantly affected the euro’s market price.
