IMF’s Christine Lagarde nominated for top job at European Central Bank
The European Council on Tuesday officially nominated Christine Lagarde, managing director of the International Monetary Fund, to become the next president of the European Central Bank, according to website CNBC.
Lagarde would succeed Mario Draghi. Lagarde has led the IMF since 2011.
“I am honored to have been nominated for the Presidency of the European Central Bank,” Lagarde said in a statement. “In light of this, and in consultation with the Ethics Committee of the IMF Executive Board, I have decided to temporarily relinquish my responsibilities as Managing Director of the IMF during the nomination period.”
Lagarde’s nomination now passes to a vote at the broader European Parliament as well as between the euro zone finance ministers. However, this is more of a symbolical step as the heads of state have the final say on the ECB presidency.
European Council President Donald Tusk, who chairs the EU summits between the 28 heads of state, told CNBC that Lagarde’s past as a finance minister does not put at risk the independence of the ECB. The central bank is meant to be totally independent from political interference.
Dutch Prime Minister Mark Rutte told CNBC in Brussels that Lagarde is a “tough lady”.