Lagarde: inflation will remain high over the coming quarters

A bid for the 2027 French presidential election “is not part of my plans. It is not my future. But I want to have my say in that debate”.

This is according to the President of the ECB Christine Lagarde in an interview with the Japanese newspaper Yomiuri Shimbun, in which she explained that her seven years at the helm of the Eurotower “were no walk in the park. “It has been one challenge after another, an intense period of work carried out in close collaboration with my colleagues.”

“This departure,” he observes, “is taking place only about nine months earlier than planned” at a time when “globally, I see a number of principles and values under attack. These are principles and values that I myself consider fundamental: the rule of law, international cooperation, trade as a driver of prosperity and growth, and respect for all cultures and every human being”.

“These are ideals that have shaped who I am and have been with me throughout my life. And now I see that they are under threat,” he explains, adding, “so it is important for me to take a stand to defend them. In my country, the stakes are high in the run-up to the presidential elections. And I notice that many crucial issues are not being discussed at all, or are being addressed on the basis of incorrect facts or flawed principles.” “When I hear one of the candidates – who, incidentally, is well placed in the polls – argue that the sovereign debt should be ‘written off’, I cannot remain silent. I want to be able to have my say, based on facts, figures and the truth, rather than passively listening to propaganda based on fabrications.”

During her interview, Lagarde returned to the subject of her decision to step down as President of the ECB, a post she will leave on 7 February 2027 – some nine months before the end of her term, which is due to expire at the end of October. “These have been seven very intense and difficult years of my life, with heavy responsibilities during troubled times. It hasn’t been a walk in the park. It has been one challenge after another,” she explained, “intense work carried out in close collaboration with my colleagues. “We are a team that has come together over the years, one that has seen members come and go: that is simply the nature of the job. The institution itself remains unchanged, but governors come and go, and presidents come and go. It is always with a certain sense of emotion that one decides to leave; that is the end.”