ECB Is Risking Independence With Lagarde Exit Maneuvers

European leaders may be about to get the chance to decide on one of the region’s most influential jobs before a possible far-right win in French elections next year. It’s a huge opportunity that also comes with high political risks.

Christine Lagarde is considering her future at the European Central Bank, the institution has signaled. The Financial Times reported that she’s already decided to leave early to allow French President Emmanuel Macron and German Chancellor Friedrich Merz find her replacement. Her term is due to run until October 2027.