The starting gun has been fired in the race to succeed Christine Lagarde at the European Central Bank (ECB) following reports she plans to leave the job early.
Her term as the head of Europe’s most important financial institution is due to end in October 2027.
But she plans to stand down before French elections next year, according to the Financial Times.
The European establishment fear a victory by the eurosceptic right would complicate selection of the next chief and an early exit would allow Emmanuel Macron to oversee the appointment with German chancellor Friedrich Merz.
But the ECB said ‘President Lagarde is totally focused on her mission and has not taken any decision regarding the end of her term.’
Former Dutch central bank chief Klaas Knot, ex-Bank of Spain governor Pablo Hernandez de Cos, Bundesbank boss Joachim Nagel and the ECB board’s Isabel Schnabel are seen as front-runners.
Stepping down: Christine Lagarde’s term as ECB boss is due to end in October 2027. But she reportedly plans to leave before French elections next year
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