Lagarde Denies Rumors of Early Departure: Completing Term Is the "Baseline Scenario"

Bloomberg News has learned that European Central Bank President Christine Lagarde stated that completing her current term is her “baseline scenario,” after reports earlier this week suggested she might step down early.

In an interview, she said, “Looking back over these years, I believe we have achieved a lot, and I have also made significant contributions personally. Now, we need to consolidate these achievements and ensure they are solid and reliable. Therefore, my baseline scenario is that this work will continue until the end of my term.”

On Wednesday, reports emerged that Lagarde would leave the European Central Bank before the end of her eight-year term so that French President Macron could influence the appointment of her successor before the upcoming French presidential election, which could see far-right forces gain power.

Although the ECB at the time insisted that Lagarde was “fully focused on her mission,” it also stated that she “has not made any decisions regarding the end of her term,” implying she is indeed considering an early departure.

Lagarde said she views her mission as maintaining price and financial stability, as well as “protecting the euro, ensuring it remains solid and strong enough to adapt to Europe’s future.”

Lagarde had previously been rumored to leave the ECB early, but in June last year, she tried to quell discussions about her planning to lead the World Economic Forum. Recently, in an interview, she stated that she is “not someone who gives up halfway.”

However, after French Central Bank Governor François Villeroy de Galhau announced he would step down early before next year’s French election, speculation about Lagarde’s early departure has intensified again.

Lagarde said that the World Economic Forum is one of the “many options” she is considering after leaving the ECB.

Given that Marine Le Pen’s National Rally might win the election, Europe is eager to protect its most critical institutions. But attempts to circumvent election results have raised concerns about the political independence of the ECB.

When asked about this, Lagarde said, “I believe the European Central Bank is a highly respected and reputable institution, and I hope I have contributed to that as well.”