European Central Bank President Christine Lagarde is reportedly weighing an early departure before her term ends in October 2027, potentially reshaping the ECB’s leadership during a critical phase for the digital euro.
The Financial Times said Lagarde may step down ahead of France’s April 2027 presidential election to allow President Emmanuel Macron and German Chancellor Friedrich Merz to agree on a successor, though an ECB spokesperson said she remains “totally focused on her mission.”
Lagarde’s possible exit comes as the ECB advances its digital euro project and navigates oversight of stablecoins under the European Union’s Markets in Crypto-Assets regulation, having repeatedly warned that privately issued digital money could pose risks to financial stability and monetary policy.
Lagarde has consistently criticised Bitcoin, calling it “highly speculative” and previously saying crypto is “worth nothing,” reinforcing the ECB’s cautious stance towards digital assets even as market interest has surged.
Economists cited by the FT identified Pablo Hernández de Cos, Klaas Knot, Isabel Schnabel and Joachim Nagel as potential successors, all of whom have taken conservative positions on crypto and emphasised strong regulatory oversight.
ECB Executive Board member Piero Cipollone said EU co-legislators are expected to adopt the digital euro regulation in 2026, enabling a 12-month pilot in the second half of 2027 with selected payment providers and merchants.
If legislation proceeds as planned, the Eurosystem aims to be ready for a possible first issuance of the digital euro in 2029, making the ECB leadership transition a key variable in the project’s tone and execution.
At the time of reporting, Bitcoin price was $66,882.19.