European Central Bank Executive Board member Piero Cipollone said on Wednesday he had "no news" suggesting ECB President Christine Lagarde plans to resign before her current mandate expires. Cipollone's comments came at the close of a meeting of Italy's banking association, ABI, held in Rome.
The remarks were delivered in response to a recent press report that said Lagarde was considering leaving her post ahead of next years French presidential contest so the outgoing French president could have a say in choosing her successor. Cipollone did not confirm any such plans and limited his statement to the information available to him.
Lagardes term is set to run until October 2027. The press report noted concerns that if the far right were to win the French election in the spring of 2027, that outcome could complicate the process of selecting the next head of Europes principal monetary authority. Cipollone reiterated that he had not received any indication of an early resignation that would alter that timetable.
At the ABI event in Rome, Cipollone also offered a direct assessment of the ECB presidents current leadership. He said Lagarde was "in full control of the central bank and is always guiding us with the necessary strength and energy." The remark underscored his view that the institution remains under steady management despite media speculation.
The exchange at the banking association meeting reflects how personnel questions at the top of the ECB can become intertwined with political developments in member states. Cipollone's brief public response did not elaborate beyond denying any knowledge of an imminent departure and praising the presidents stewardship.
Beyond reiterating that there was "no news" on an early resignation, Cipollones comments were limited in scope. He confined his remarks to his own awareness and to the assessment of Lagardes ongoing role at the central bank, without addressing potential timelines, succession mechanisms, or other hypothetical scenarios.
Context note: The reported speculation about an early departure and the stated end date of October 2027 are the basis for questions about how a potential change in Frances political leadership could affect the selection process for the ECBs next president.