Germany’s Finance Chief Calls ECB Succession Chatter ‘Speculation’

Germany’s Position on the ECB Presidency Succession

FRANKFURT, Feb 20 (Reuters) - German Finance Minister Lars Klingbeil said on Friday that discussion of the term length of ECB President Christine Lagarde was "speculation", but that when it came time to find a successor, Germany would participate actively.

Government Will Form a Common Position

"It is also clear that when it comes to the succession, we in the government will address this issue very quickly, will have a common position, and will of course have a strong say as the federal government when it comes to Ms Lagarde's succession," he told journalists in Frankfurt.

Lagarde Signals She’ll Complete Her Term

Lagarde has attempted to calm speculation about her stepping down early, telling the Wall Street Journal she expects to complete her term.

FT Report Sparked Early-Exit Speculation

Lagarde's status as leader of Europe's most important financial institution was plunged into doubt this week after the Financial Times reported she planned to leave her job ahead of next spring's French presidential election, giving outgoing leader Emmanuel Macron a say in picking her successor. 

Issue ‘Not on the Agenda’ for Now

Succession "is not on the agenda at the moment; this is just speculation that is circulating," Klingbeil said. 

Reporting and Editing Credits

(Reporting by Tom Sims, Editing by Friederike Heine)