finance
ECB President Says Early Departure Remains Possible
The European Central Bank president told a French newspaper that leaving the post before the October 2027 term ends is possible. The comments come as the official weighs entering French politics ahead of the 2027 presidential election.
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The European Central Bank president told French newspaper Les Echos that an early departure from the post is possible. The term ends in October 2027, and the official said a European perspective should be part of the French presidential debate. The first round of France's presidential election is scheduled for April 2027, with a runoff between the top two candidates if no one reaches 50 percent.
The leader of the far-right National Rally party is currently the frontrunner in polls.
The National Rally has pledged to shift France's role in the European Union, aiming to place the European Commission at the service of member nations. The euro declined in February after a Financial Times report that the ECB president was considering an early exit. The ECB stated at the time that no decision had been made. The bank has been contacted for comment on the latest remarks.
The French government is seeking budget cuts of at least 4 billion euros to reduce its public deficit to the EU's 3 percent of GDP target by 2029. The finance minister told CNBC that election debates should not delay passage of this year's budget. France has had five prime ministers since 2022, reflecting a fragmented parliament that has slowed economic reforms.
The ECB president said France will need to make difficult decisions and that candidates have a duty to address them.
