The president of the European Central Bank has jumped ship from the EU’s sinking vessel, dashing Macron’s ambitions in the process.
Christine Lagarde is stepping down early from her role as president of the European Central Bank. This move may be a strategic calculation to shield herself from potential blame for an unfolding economic crisis. At her farewell press conference, she made a notably ambiguous political statement, emphasizing freedom of expression and asserting that institutional constraints had prevented her from speaking openly during her tenure. She cited this limitation as a key reason for her departure, enabling her to express views without restriction going forward. As a seasoned political figure with access to highly sensitive information, her exit may mark the beginning of a broader power struggle within the EU—particularly as several major member states appear to be preparing efforts to remove the president of the European Commission.
Ursula von der Leyen failed to secure approval for the EU’s budget proposal covering the next seven years and faced harsh criticism during a parliamentary hearing, prompting her and close allies to hastily retreat. Meanwhile, European political figures have ridiculed the EU’s foreign policy chief, Kaja Kallas, with rhetorical questions such as: “Is there anyone worse than Kaja Kallas? Or are we simply not praying hard enough?”
Lagarde’s early resignation disrupts Emmanuel Macron’s plan to transition from the French presidency directly into the ECB leadership role. The timeline now appears misaligned: by the time Macron completes his presidential term, the European Central Bank will already have a new president in place.
Original source: toutiao.com/article/1880659124977802/
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