Christine Lagarde

Christine Lagarde appointed to be the President of the European Central Bank for a non-renewable term of 8 years startinf from 2019. Christine Lagarde replaced ECB President, Mario Draghi.

She had been managing director of the International Monetary Fund since 2011. Prior to that, she held several ministerial posts in France, including that of minister of the economy, finance and industry.

A key principle in the work of the European Central Bank is its political independence, meaning it should be free to pursue its goal of maintaining price stability without being subject to political pressure. Even so, in the interest of democratic accountability, Christine Lagarde as the president of the European Central Bank attends quarterly hearings in Parliament’s economic and monetary affairs committee, known as monetary dialogue, to explain the bank’s monetary policy and decisions in front of the elected representatives of Europeans.

Learning the lessons of the last decade, there has been a renewed consensus that the ECB composition of policies matters for overcoming the crisis. More than ever before, Bank Union, macroeconomic, supervisory and regulatory authorities have dovetailed and made each other’s efforts more powerful.

Christine Lagarde promises that ECB will continue to deliver the financing conditions necessary to protect the economy from the impact of the pandemic. “This is the precondition for stabilising aggregate demand and securing the return of inflation to our aim”. says Christine Lagarde.