The European Central Bank (ECB) is confronting a rare internal governance crisis. The staff committee, the institution's employee representative body, has formally written to the Executive Board demanding that President Christine Lagarde clarify whether she intends to step down before her term expires in October 2027, warning that "prolonged uncertainty" over leadership could damage market and staff confidence in the central bank, disrupting leadership transition and future strategy planning. This unusual internal letter has thrust what was previously largely external succession speculation squarely onto the ECB's internal governance agenda.
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