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ECB confirms Lagarde to stay until 2027

Lagarde has no plans to leave early despite Davos rumors

The European Central Bank confirmed on Wednesday that its president, Christine Lagarde, is fully committed to completing her term, which runs until October 31, 2027, denying reports that she might leave early to take over as president of the World Economic Forum. This clarification came after the Financial Times reported that Lagarde had informal talks with the forum's founder, Klaus Schwab, in April regarding the future of the forum's leadership and the possibility of her succeeding him.

 The newspaper noted that Lagarde, a member of the forum's Board of Trustees, has been at the center of potential succession plans for years, and that recent discussions have addressed timelines and practical arrangements, including the required facilities.

Commenting on these allegations, a spokesperson for the European Central Bank said: "President Lagarde has always been fully committed to her duties and is determined to complete her term."

It's worth noting that Schwab, who founded the World Economic Forum, abruptly resigned last month, following the forum's announcement that it had opened an investigation into him following a report of misconduct, which Schwab categorically denied.

Source: Middle East

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