On February 18, the Financial Times reported unofficially that Christine Lagarde is contemplating resigning from her position as president of the European Central Bank (ECB) before her term ends in October 2027. Speculations suggest that her decision might be influenced by the presidential elections in France slated for next spring, where far-right candidates could prevail. If Lagarde resigns early, it would allow current French President Emmanuel Macron and German Chancellor Friedrich Merz to have a significant role in selecting her successor.

Lagarde's potential resignation has sparked considerable debate regarding the political nature of one of Europe’s most important financial institutions. The discussion has raised concerns about the ECB's supposed neutrality and its independence from political influences. In response to the growing speculation, Lagarde attempted to silence these rumors during a recent conversation with the Wall Street Journal, asserting her commitment to her role at the ECB and the importance of the institution's apolitical stance.

The reactions to Lagarde's possible resignation highlight the intricate relationship between European financial governance and national politics, particularly ahead of pivotal elections. As the ECB plays a crucial role in influencing Europe’s economy, its leadership decisions can have significant ramifications not only for Eurozone countries but also for broader international financial landscapes. Lagarde’s tenure and any potential changes at the helm of the ECB will remain a focal point of analysis for economists and political pundits as the elections approach.