Schwab, who left the organization in April amid an investigation into his behavior, informed the Financial Times that he and Lagarde had talked about her leaving before her term at the ECB ended in 2027, claiming that an apartment was reserved for her in the WEF’s Villa Mundi complex by Lake Geneva.
The ECB initially responded by stating Lagarde “has always been fully committed to delivering on her mission and is determined to complete her term,” a message also circulated internally, according to two ECB officials aware of the situation.
However, the carefully worded statement didn’t dismiss the possibility that Lagarde might have considered leaving early at some point.
Some of the 5,000-strong institution’s staff were displeased by the perceived slight.
Questions regarding the former IMF chief’s ambitions have circulated since she took charge of the ECB at the end of 2019, amidst rumors that she preferred a more political role over monetary policy. Such rumors haven’t been quashed by her frequent speeches on broader geopolitical issues beyond typical monetary policy boundaries.
One bank employee told POLITICO, “It kinda reinforces the idea she’s using the ECB as a stepping stone.” Another user on the bank’s internal message board questioned what it said about the central bank’s prestige if its head is considering leaving for an event management company.
ECB staff told POLITICO that the topic wasn’t raised at a town hall meeting earlier this week. However, “in the canteen, over coffee, etc., everybody’s gossiping about this,” one staffer said.
On Thursday, Lagarde, wearing a pendant that read “In Charge,” attempted to downplay the claims, calling them “far less important than the future of the economy and our monetary policy.”
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