The European Central Bank’s Executive Board will see significant membership change in 2027. President Christine Lagarde will leave in February and several other board members are also due to depart. Since 1999, when it began conducting the euro area’s monetary policy, the ECB has taken on multiple other tasks. It now supervises the largest banks, operates payment infrastructure, is developing a digital euro and monitors financial stability and climate risks. As the six-strong Executive Board transforms, much is therefore at stake, especially as board members serve non-renewable eight-year terms and can be removed only for incapacity or serious misconduct.
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