German Finance Minister Lars Klingbeil addressed speculation surrounding the term length of European Central Bank (ECB) President Christine Lagarde, stating that discussions about her departure were merely ‘speculation’. However, he affirmed that Germany intends to play an active and influential role in the selection of Lagarde’s successor when the time comes.
Speaking to journalists in Frankfurt, Klingbeil emphasised the German government’s commitment to forming a unified stance on the matter. He stated, ‘It is also clear that when it comes to the succession, we in the government will address this issue very quickly, will have a common position, and will of course have a strong say as the federal government when it comes to Ms Lagarde’s succession.’
Lagarde herself has sought to dispel rumours of an early departure, reiterating her intention to complete her term in an interview with the Wall Street Journal. Speculation about her future intensified following a Financial Times report suggesting she might step down ahead of the French presidential election next spring, potentially allowing outgoing leader Emmanuel Macron to influence the selection of her replacement.
Klingbeil reiterated that succession discussions are not currently on the official agenda, dismissing them as ‘just speculation that is circulating’. The ECB is the central bank of the Eurozone, responsible for the monetary policy of the 19 European Union countries that have adopted the euro. It aims to maintain price stability within the Eurozone.
