European Central Bank President Christine Lagarde to Step Down Ahead of Schedule
By Nino Kopaleishvili
Monday, November 9, 2026
European Central Bank President Christine Lagarde will step down on February 7, 2027, nearly nine months before the end of her term, creating a window for EU leaders to select a successor prior to France's elections
Lagarde will leave her post before her term expires in October 2027. On October 29, at a press conference following a two-day ECB policy meeting, she announced her decision to step down early, explaining that the political neutrality required by her role limited her ability to speak out on broader issues beyond monetary policy.
"I don't think that I can remain neutral. I don't think that I can be comfortable in that neutrality at the present time," Lagarde told reporters. "And I am interested in the truth, and I see the truth being very often damaged, contradicted by misrepresentation."
Explaining her decision, Lagarde said that leaving the ECB would give her greater freedom to express her views and engage with issues beyond monetary policy.
According to a statement by Eurogroup President Kyriakos Pierrakakis, the two candidates nominated to succeed Lagarde are Pablo Hernández de Cos of Spain and Klaas Knot of the Netherlands. The candidacies were submitted on November 6.
Hernández de Cos has served as General Manager of the Bank for International Settlements since 2025, having previously served as Governor of the Bank of Spain from 2018 to 2024. Knot served as President of De Nederlandsche Bank, the Netherlands' central bank, from 2011 to 2025 and chaired the Financial Stability Board from 2021 to 2025.
"At its next meeting on November 9, the Eurogroup will take stock of these candidacies," Pierrakakis said in the statement.
Commenting on the ECB president's departure, French President Emmanuel Macron and European Council President António Costa praised Lagarde's leadership.
"Through a global pandemic, a war in Europe, energy crises, and inflation shocks, she has provided a steady and determined stewardship, helping to safeguard stability and the resilience of the euro area," Costa said.
Lagarde previously served as France's finance minister from 2007 to 2011, becoming the country's first woman to hold the position. She subsequently served as Managing Director of the International Monetary Fund from 2011 to 2019 before taking office as ECB president in November 2019 for an eight-year term.
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EU Police Investigates Bomb Threats Across Europe
The EU Police are investigating a chain of bomb threats against media organizations and airports across Europe.
Approximately, 26 bomb threats have been reported across the continent in recent weeks. Several media organizations announced they have been under pressure over the bomb threats lately, ABC news reported on November 6.
On Friday, the national broadcaster of Ireland RTÉ evacuated its staff from its headquarters in Dublin. The United Kingdom's Sky News also confirmed they received a similar security notice.
Last week, the EU legislative forces were also investigating security threats at European airports. The Police searched for explosives at Prague and Copenhagen airports. The security threats regarding aircrafts were received during the previous week too. No suspicious devices have been found or accidents reported so far.
