Christine Lagarde said Thursday July 2 that she could not rule out leaving the presidency of the European Central Bank (ECB) before the end of her mandate in October 2027 to bring “a European voice” in the French presidential debate, in an interview with Les Échos.
Christine Lagarde, whose early departure before the presidential election was mentioned in February by the Financial Times, considers in this interview published on the website of the economic journal that “the captain of the ECB boat must stay on board” in this “period of turbulence” caused by the war in the Middle East in order to guarantee price stability in the euro zone. The conflict revived inflation and forced the ECB to raise its rates on June 11, after they had been stable since July 2025.
“A European voice”
Asked about a possible early departure if the situation calms down, Christine Lagarde however replied: “It’s possible. I think that a European voice must be expressed in the French presidential debate.”
“If there emerged, in this debate, a reductive perspective of French anchoring within Europe, I think we would have to explain why this would be a painful path for our country and for our fellow citizens,” she explains, considering it “very possible” to discuss with certain candidates in the coming months.
“France will have to make courageous decisions on difficult subjects. Presidential candidates have a duty to look at these issues and propose solutions. And, contrary to what I often hear from politicians, the French are perfectly aware of the situation and they expect a speech of truth and solutions,” she adds.
On June 15, the president of the Frankfurt-based monetary institution had already made comments suggesting her desire to get involved in the debate, while ensuring that she was not a candidate for “anything”.
In Les Échos, when asked whether she could support a candidate or apply, she replied: “I’m going to wonder” before correcting: “No, I’m joking. I think it’s not relevant.”
The next presidential election in France will take place on April 18 and May 2, 2027.
