Speculation over the future leadership of the European Central Bank (ECB) is building momentum, even as President Christine Lagarde insists she intends to complete her mandate per Financial Times. Lagarde has also emphasized the importance of keeping policy tools flexible, especially as markets question whether the ECB has room for further easing. His name, along with those of ECB insiders Frank Elderson, Piero Cipollone, and Claudia Buch, has surfaced in discussions about possible successors. Although Lagarde insists she will see her mandate through, the growing maneuvering across Europe suggests that the succession race is already underway. Lagarde Warned on Stablecoin RisksEarlier in September, ECB President Christine Lagarde urged the EU to impose tougher rules on foreign stablecoins, warning they could exploit gaps in the bloc’s Markets in Crypto-Assets Regulation (MiCA).