Reactions to early resignation of ECB President Christine Lagarde
TLT•European Central Bank President Christine Lagarde will step down early, giving EU leaders time to choose her successor before a French presidential election. Politicians and business figures offered mixed reactions to the timing and her tenure.
1. Reactions to resignation
French President Emmanuel Macron thanked Lagarde for her work and said the leadership transition should be prepared in an orderly manner with European partners. French Finance Minister Roland Lescure called her an exceptional president who modernized and strengthened the ECB.
2. Timing draws criticism
Jean-Philippe Tanguy, a lawmaker for Marine Le Pen’s RN party, called the move an insult. German member of the European Parliament Markus Ferber said the impression that the departure was timed around national elections could damage trust in the ECB’s independence.
3. Views on succession
Former central banker and Canadian Prime Minister Mark Carney praised Lagarde’s contributions and said the world needs her advice. Goldman Sachs fixed-income macro investing head Simon Dangoor said the ECB’s institutional behavior is likely to outlast Lagarde and remain quite similar whoever takes over.
