{"id":668815,"date":"2026-10-29T12:16:09","date_gmt":"2026-10-29T12:16:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/668815\/"},"modified":"2026-10-29T12:16:09","modified_gmt":"2026-10-29T12:16:09","slug":"christine-lagarde-to-step-down-as-ecb-president-nine-months-ahead-of-schedule-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/668815\/","title":{"rendered":"Christine Lagarde to step down as ECB president nine months ahead of schedule \u2013 The Irish Times"},"content":{"rendered":"<p class=\"c-paragraph paywall \"><a href=\"https:\/\/www.irishtimes.com\/tags\/christine-lagarde\/\" target=\"_blank\" rel=\"noreferrer nofollow noopener\" title=\"https:\/\/www.irishtimes.com\/tags\/christine-lagarde\/\">Christine Lagarde<\/a> is to step down as European Central Bank president in February, nine months before her eight-year term expires in October 2027, after months of speculation about an early exit.<\/p>\n<p class=\"c-paragraph paywall \">Her departure opens the door to one of the biggest leadership reshuffles in the ECB\u2019s 28-year history, just as the central bank faces a resurgence in inflationary pressures.<\/p>\n<p class=\"c-paragraph paywall \">Lagarde\u2019s tenure has been shaped by the worst pandemic in a century, the bloodiest war in Europe since 1945, the biggest inflation shock in a generation and a trade war with the US.<\/p>\n<p class=\"c-paragraph paywall \">Earlier this year, Lagarde, 70, admitted that she had believed she would only serve in Frankfurt for five years rather than eight when she agreed with French President Emmanuel Macron to do the job.<\/p>\n<p class=\"c-paragraph paywall \">She is the second president in the 28-year history of the ECB to resign early. Its first head, Wim Duisenberg, left after five years following a political understanding at the onset of the monetary union.<\/p>\n<p class=\"c-paragraph paywall \">Lagarde has been in talks to chair the World Economic Forum.<\/p>\n<p class=\"c-paragraph paywall \">The Dutch government is backing former Dutch central bank governor Klaas Knot as Lagarde\u2019s successor, while Spain is supporting Pablo Hern\u00e1ndez de Cos, general manager of the Bank for International Settlements and former governor of the Bank of Spain.<\/p>\n<p class=\"c-paragraph paywall \">ECB executive board member Isabel Schnabel will leave her role one year early in January to take a senior position at the IMF. ECB chief economist Philip Lane\u2019s term will expire in May.<\/p>\n<p class=\"c-paragraph paywall \">Any new executive board member needs the support of at least 16 of the 21 countries using the euro, representing 65 per cent of the bloc\u2019s population.- Copyright The Financial Times Limited 2026<\/p>\n<p class=\"c-paragraph paywall \">More to follow&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"Christine Lagarde is to step down as European Central Bank president in February, nine months before her eight-year&hellip;\n","protected":false},"author":2,"featured_media":668816,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[72,14724,12965,61,60,26698],"class_list":["post-668815","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-christine-lagarde","tag-european-central-bank-ecb","tag-ie","tag-ireland","tag-philip-lane"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/668815","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=668815"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/668815\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/668816"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=668815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=668815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=668815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}