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Lagarde to Step Down February 2027, Successor Process Starts

By Drooid · Oct 31, 2026 · How we work

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Summary

ECB President Christine Lagarde announced she will step down on 7 February 2027.
Her early resignation lets leaders name a successor before the April 2027 French presidential election.
Council President Antonio Costa said the successor selection will start immediately under EU treaty rules.
Klaas Knot and Pablo Hernández de Cos are viewed as the leading candidates to replace Lagarde.
The ECB kept its deposit rate unchanged at 2.5% at the same policy meeting.

History

Created on 1 June 1998 under the Maastricht Treaty, the ECB replaced the European Monetary Institute and began operations with Dutch economist Wim Duisenberg as its first president. His orderly handover to Jean-Claude Trichet in 2003 set a precedent for the treaty-based succession that now faces Christine Lagarde’s departure, with the bank’s €11 billion capital and €7 trillion balance sheet underscoring its continuity.

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Created on 1 June 1998 under the Maastricht Treaty, the ECB replaced the European Monetary Institute and began operations with Dutch economist Wim Duisenberg as its first president. His orderly handover to Jean-Claude Trichet in 2003 set a precedent for the treaty-based succession that now faces Christine Lagarde’s departure, with the bank’s €11 billion capital and €7 trillion balance sheet underscoring its continuity.

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