Lagarde accelerates her exit from the ECB and gives De Cos less than a month to seek support

Christine Lagarde announced her resignation from the European Central Bank (ECB) presidency, effective February 7, a year before her term ends. Her departure opens up key positions within the ECB, including her own and those of Philip Lane and Isabel Schnabel. Lagarde cited a desire for freedom and plans to engage in unpaid activities, potentially supporting center-right candidates in France amid a political crisis. The Spanish government is backing Pablo Hernández de Cos as her successor, with support from political leaders. The European authorities are moving quickly to ensure a smooth transition, with decisions expected soon regarding the new leadership.