Christine Lagarde, the President of the European Central Bank, has resigned

Christine Lagarde, the president of the European Central Bank, is expected to resign, as announced by European Council President António Costa. This decision may be influenced by the upcoming French presidential elections, allowing Emmanuel Macron to choose her successor. Lagarde's term was originally set to end on October 31, 2027. The move aims to prevent the appointment of a euroskeptic candidate. Lagarde has been in her position since November 2019, following an agreement between Macron and former German Chancellor Angela Merkel. Reports suggest that France may support Klaas Knot from the Netherlands as her successor.