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Lagarde rules out 2027 French bid
European Central Bank President Christine Lagarde rules out running in the French presidential election in 2027, affirming that candidacy requires significant energy and commitment, and at age 70, she feels unable to shoulder that. She indicated that she might leave her position at the bank a few months early. She emphasized the need for financial reforms in France, including reducing bureaucracy, reforming the labor market, and addressing the pension system, in order to control the high public debt, which is approaching 120% of GDP. She also clarified that the European financial system has become more resilient compared to the crises of 2008 and 2011, and that France needs a clear debt management plan amid financial challenges that require reforms to restore confidence and boost growth.
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