« Lagarde, a goodbye anticipated to the ECB to guide the Davos forum »: the intrigue that shakes Europe (and finance)

An institutional intrigue involves The President of the ECB, Christine Lagarde, and the World Economic Forumwhich at the end of January brings together the world economic and political elite a DavosSwiss ski resort. According to what revealed by Financial Timesthe former Wef founder, Klaus Schwabwould have discussed with Lagarde The possibility of leaving the guide of the European Central Bank in advance to take on the presidency of the Swiss organization. But Frankfurt deny firmly, officially.

Schwab’s story

The conversations between Schwab and Lagarde would not be a recent fact. According to the 87 -year -old Founder of the Forum, who resigned from the WEF guide to Easter and is now at the center of An investigation for malversations and harassmentthe two would have discussed for « several years » of the possibility that the former French minister took place at the helm of the organization which at the end of January brings together annually the economic and world political elite in Davos, in the Swiss ski resort.

The last decisive meeting would take place in April in Frankfurt, when Schwab visited Lagarde to discuss a transition that should have completed himself at the latest at the beginning of 2027. The preparations were already advanced: an apartment had been reserved in Villa Mundi, owned by the Wef overlooking Lake Geneva, to allow Lagarde to work gradually taking more responsibilities.

According to sources close to negotiations, writes the British newspaper, Lagarde would have placed precise conditions for its possible transfer. The President of the ECB would have linked his availability to achieve the 2% inflation objective in the eurozone, demonstrating his commitment to complete the price stability mission entrusted to the central bank.
However, during the various interviews, Lagarde would also have expressed reservations about the possibility of leaving his assignment to the ECB prematurely, highlighting the complexity of the decision and the weight of European monetary responsibilities.

The response of the ECB

« President Lagarde has always been fully engaged in her mission and is determined to complete her mandate, » said the ECB, refusing to further comment on the speculations. The number one of the ECB « is determined to complete its mandate », which expires in October 2027, declared a spokesperson for the monetary institution.

Schwab’s resignation

The situation complicated further with Klaus Schwab’s early stage exit. The 87 -year -old founder of the forum suddenly resigned in April, after being the subject of An internal investigation resulting from an anonymous letter that accused him and his wife of having « mixed » personal affairs and forum resources.
Schwab categorically rejected these accusations, declaring that he has filed a complaint for defamation. However, his early departure has thrown uncertainty about succession plans, with the former Nestlé President Peter Brabeck-Letmathe appointed Interim President.

Economic and political consequences

With a possible transfer to the WEF, the president of the ECB would practically double his salary, going from the 466 thousand euros of the ECB to the million Swiss francs received by Schwab.

On the institutional front, moreover, an early departure of Lagarde would trigger a race to succession for one of the most influential financial roles in Europe, traditionally subject to complex political negotiations between the Member States of the Union. The last time a president left the leadership of the ECB pretext in 2003, when Wim Duisenberg left room for Jean-Claude Trichet.

Despite the official denials, sources close to the dossier writes the Ft, The conversations between Lagarde and the Forum continue even after Schwab’s release. No comments from WEF.