The ECB's response is a departure from an earlier guidance on Ms Lagarde. Last year, when the FT suggested Ms Lagarde may leave early, the ECB said Ms Lagarde was "determined to complete her term". However, Ms Lagarde's name did not surface until shortly before her own nomination seven years ago, suggesting that this race is unpredictable. Ms Lagarde would leave the ECB at a relatively tranquil time. Ms Lagarde's term runs until October 31, 2027.

Source: Irish Examiner February 18, 2026 16:04 UTC