Escalation: Lagarde resigns as ECB chief, effective Feb 7, 2027

Christine Lagarde resigned as president of the European Central Bank, effective February 7, 2027. Her eight-year term was due to end in October 2027, so she will leave roughly eight to nine months early.

The decision starts the formal process for EU leaders in the European Council to appoint her successor under the EU treaty rules. Lagarde informed the ECB’s Governing Council and the European Council president, Antonio Costa. The timetable allows leaders to choose her replacement before France’s presidential election in April.

AI-synthesized from multiple reported sources