Interview with Christine Lagarde, ECB President, on global crises and Europe’s future

Christine Lagarde, President of the European Central Bank (ECB), was interviewed by Jean-Claude Bourbon and Marie Dancer on 16 and 28 September 2026. The discussion covered global crises, Europe’s economic outlook, climate change, and her personal views on leadership and faith.

Lagarde highlighted the interconnected nature of recent crises, including the energy crisis, geopolitical tensions, and inflation, emphasizing the unprecedented challenges faced by Europe. She identified the energy crisis, driven by conflicts in the Middle East, as the most immediate threat to the European economy.

She discussed the stability of the European economic model, noting significant shifts in energy supply, trade, and security alliances. She reflected on her seven years as ECB President, expressing pride in collective responses to crises and acknowledging areas for improvement, such as the 2021 energy shock response.

Lagarde described her approach as guided by facts, rejecting labels like hawk or dove, and emphasizing flexibility in monetary policy. She addressed concerns about rate hikes and economic slowdown, stressing the importance of balancing inflation control with growth.

Regarding France, she noted the growth gap within the euro area and stressed the importance of credible reforms, European cooperation, and sustainable public finances. She dismissed the idea of debt cancellation, citing financial and legal risks.

Lagarde affirmed her commitment to serving the European interest and dismissed speculation about early departure from her ECB role, citing her age and dedication. She emphasized the importance of European unity and trust, citing examples of political change in EU countries.

On climate issues, she defended the ECB’s role in integrating climate risk into financial analysis, asserting that climate change impacts the economy and financial stability. She also discussed the influence of the Pope, emphasizing the importance of faith, peace, and shared values for Europe’s future.

Lagarde expressed concern about media influence and social media, but maintained faith in societal resilience, trust, and dialogue. She highlighted the importance of inclusive support for change, both in France and Europe, and shared personal favorites in art, music, and her Normandy roots.

Her reflections underscore her view of Europe as a community rooted in shared values, resilience, and collective ambition, amid ongoing geopolitical and economic challenges.