Bank of Greece Governor Yannis Stournaras has praised Christine Lagarde’s leadership of the European Central Bank (ECB), highlighting her ability to bring together members with differing views as she prepares to leave the post in February.
“She succeeded in bridging, to a large extent, the different views of the members of the ECB’s Governing Council. This is a major achievement and a legacy for the future,” Stournaras told OT, commenting on Lagarde’s departure announcement.
The Greek central bank chief worked closely with Lagarde throughout her presidency, a period marked by several crises and critical decisions for the European economy.
Stournaras recalls years of cooperation
Stournaras and Lagarde had also worked together before her time at the ECB. He served as Greece’s finance minister while she was managing director of the International Monetary Fund (IMF), and their cooperation continued after she took over the European central bank.
“We have always had excellent cooperation, both then and now,” Stournaras said.
He and Lagarde worked together during key moments for the European economy, as policymakers faced successive challenges. Stournaras emphasized her role in reconciling differing positions within the ECB’s Governing Council, describing this as an important contribution to the institution’s future.
Lagarde to leave ECB in February 2027
According to an official ECB announcement, Lagarde informed the bank’s Governing Council and European Council President António Costa on Thursday that she would leave office on February 7, 2027.
Her departure will come before the end of her term, which had been scheduled for October 2027.
The ECB’s Governing Council thanked Lagarde for her service and gave her a prolonged standing ovation.
Lagarde’s successor will be appointed by the European Council following the nomination procedure set out in Article 283 of the Treaty on the Functioning of the European Union.
Source: tovima.com
