\n<\/p>\n
In a social media post, Pierrakakis expressed his gratitude on behalf of the Eurogroup, highlighting Lagarde\u2019s contribution to the stability of the eurozone during her presidency.<\/p>\n
\u201cI would like to thank Christine Lagarde for her tenure as President of the European Central Bank (ECB). On behalf of the Eurogroup, I express my sincere gratitude to Christine Lagarde for her outstanding contribution to the stability of the eurozone and for her leadership during these challenging economic times,\u201d he said.<\/p>\n
Pierrakakis, who also serves as Greece\u2019s Minister of National Economy and Finance, shared the Eurogroup\u2019s full statement, published on the European Union Council\u2019s website.<\/p>\n
Read more: Christine Lagarde Quits ECB Early, Sets February Exit Date<\/p>\n
The statement described the euro as the foundation of the eurozone and a guarantee of its stability. It also called the single currency a milestone in European integration and one of the EU\u2019s most tangible and valuable achievements.<\/p>\n
\u201cChristine Lagarde\u2019s tenure at the helm of the ECB has only strengthened confidence in the European single currency,\u201d the statement added.<\/p>\n
Succession process<\/strong><\/p>\n The Eurogroup said it would act swiftly to prepare the EU Council\u2019s recommendation to the European Council on the appointment of Lagarde\u2019s successor.<\/p>\n The European Council appoints the six members of the ECB\u2019s Executive Board, including its president and vice-president. It makes the appointments following a recommendation from the EU Council and consultations with the European Parliament and the ECB\u2019s Governing Council.<\/p>\n Lagarde will leave the ECB presidency on 7 February 2027.<\/p>\n