Christine Lagarde is the new president of the ECB
Leaders of the European Union announced officially this Friday the appointment of the official to head the agency
Christine Lagarde, who has just been in charge of the International Monetary Fund, received from the European Parliament all the support in her nomination – which she has just won – to chair the European Central Bank (ECB).
The information was released on Friday by the leaders of the European Union, who formalized the appointment of the French citizen as new president of the European Central Bank (ECB). Lagarde will be in charge of the organism as of November 1st and for a period of eight years.
The approval of the heads of State and government is the last step of the whole process after both the European Parliament and the issuing institute gave their support to the former IMF managing director, although in both cases they were not binding opinions.
During the hearing before the Committee of Economic and Monetary Affairs of the Eurochamber, Lagarde defended the need to continue with the monetary stimuli of its predecessor to reach an inflation increase and boost for the growth of the eurozone. The appearance, however, took place before the last package of measures announced by Draghi.
At that time, Lagarde said before MEPs that the downside risks facing the eurozone have not disappeared and inflation is still too low and far from the target which is an increase below but close to 2 %.
Source: dpa
