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Macron's Role in Lagarde Succession Sparks Debate in Europe

Published February 19, 2026, 09:19
Macron's Role in Lagarde Succession Sparks Debate in Europe

The discussion surrounding the succession of Christine Lagarde as President of the European Central Bank (ECB) has been reignited following reports suggesting she may step down before the end of her term in 2027. The ECB has denied the information, but has not completely ruled out the possibility of an early departure. Such a development could give French President Emmanuel Macron the opportunity to influence the selection of the successor, ahead of the presidential elections in France in 2025. The presidency of the ECB is one of the most powerful positions in Europe, and national governments usually compete to promote their own candidates. The sudden resignation of the Governor of the Bank of France, François Villeroy de Galhau, has been interpreted as an attempt to protect the central bank from a possible far-right presidential scenario in France. France, as the second largest economy in the Eurozone, is considered to have an informal right to one of the six positions on the ECB's Executive Board. Several analysts believe that France will seek the position of Chief Economist of the ECB when the current holder's term expires in 2027. Such a move could pave the way for Lagarde's early departure. The final selection will be the result of negotiations between member states, taking into account French, German and Spanish claims.