Lagarde mulls leaving ECB early to play a role in French elections

European Central Bank President Christine Lagarde said she is considering the possibility of taking part in the upcoming French elections, a move that could result in her stepping down from her post earlier than planned. European Central Bank President Christine Lagarde is weighing the possibility of playing a role in the upcoming French elections, which could lead her to leave her post early, she told French newspaper Les Échos on Thursday. Lagarde did not specify the role she has in mind, but said she is not currently planning to run as a candidate, and would instead prefer to contribute to and shape the electoral debate. "I believe that a European voice needs to be heard in the French presidential debate," Lagarde said, adding that it would be presenting as a possibility to leave early her office. France is set to hold its next presidential election in April 2027. The vote comes amid a fragmented political landscape, with a hung National Assembly and no stable majority, making it difficult for governments to consistently pass key legislation. The country is also facing significant economic challenges, including high debt and limited fiscal flexibility for investment in key sectors such as defence and AI, leaving it in a weaker position compared with other European partners. More than 30 candidates have already expressed interest in running. On the far right, the National Rally—currently leading the polls—is expected to field either Marine Le Pen, if her conviction for misuse of EU funds is overturned on appeal, or Jordan Bardella. "France must play a decisive role in the economic future of our continent. And that without this European environment and anchoring, our economic prospects would, at the very least, be unclear," Lagarde said in the interview. Lagarde’s intention to step down early was reported by the Financial Times in February, opening the debate on who will replace her as ECB chief.