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Lagarde officially nominated for Head of European Central Bank

The EU Council and the European Parliament will discuss her candidacy
15:34, 10 July 2019

Open source

Christine Lagarde, Managing Director and Chairsperson of the International Monetary Fund is officially nominated for the post of the Chairman of European Central Bank. Finance Ministers of EU member states nominated her at the session in Brussels on July 9, as DW reported.

It was informed that the final decision would be made at the summit of EU member states in October. Until then, the EU Council and the European Parliament will discuss her candidacy.

The idea to nominate Christine Lagarde appeared at EU Summit on July 2. Later, Lagarde said that she suspends her work on the post of IMF Head for this period.

Christine Lagarde headed IMF in 2011; her second term expires in 2021.

Traditionally, a European holds the post of the Chairman of IMF, while an American takes the post of the Head of World Bank. The term on the post of IMF Head makes eight years, it can not be prolonged.

“At the meeting in Brussels on July 9, Finance Ministers of the EU member states discussed the question of the successor of Lagarde on the post of IMF Head. According to reports, ex-Finance Minister of the Netherlands might hold this post,” the message reads.

 

 

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