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The President of the European Central Bank has signaled that she may leave before the end of her term to participate in the presidential elections in France...
The President of the European Central Bank (ECB), Christine Lagarde, has left open the possibility of leaving her post early to return to the French political scene.
In an interview with the French newspaper Les Echos, asked if she could step down as ECB chief before the end of her term if the current economic uncertainty eases, Lagarde replied: "It's possible."
She stressed that she believes that "a European voice must be heard in the debate on the presidential elections in France."
However, the ECB president clarified that she has no intention of leaving as long as the European economy faces instability.
" Since we are once again in a period of turmoil, I believe the captain of the ECB ship should stay on deck ," she said.
Lagarde's term as head of the European Central Bank ends in October 2027. Her name has often been mentioned as a possible figure in French politics, although in the past she has described the post of president of France as "an extraordinary job."
In the same interview, Lagarde said she could hold open talks with French candidates in the coming months. According to her, if the electoral debate is oriented towards a more limited vision of France's role in Europe, it will be necessary to explain that such an approach would have painful consequences for the country and its citizens.
Defense of interest rate policy
Lagarde also defended the ECB's recent decision to raise interest rates.
" We are convinced that we made the right decision ," she declared, adding that most members of the Governing Council were ready to act as early as April, but at that time not all the necessary data was yet available.
The ECB raised interest rates in June for the first time since the outbreak of the war between Israel and Iran, arguing that the economic hit and the risk of accelerating inflation required intervention. Then, the ceasefire agreement between the US and Iran led to a sharp drop in oil prices, while the latest data from the eurozone showed a larger-than-expected slowdown in inflation.
However, Lagarde assessed that supply-side pressures continue to spread through the economy, although no significant secondary effects have emerged so far.
" We are facing an external supply-side shock that is spreading to the rest of the economy and we are already seeing its indirect effects ," she concluded.
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