European Central Bank chief Mario Draghi passes the baton to former IMF head Christine Lagarde whose first task will be to heal rifts among policymakers
In this file photo taken on July 24, 2016 International Monetary Fund managing-director Christine Lagarde speaks with president of the European Central Bank , Mario Draghi , prior to a"family photo" at the G20 finance ministers meeting in Chengdu, in China's Sichuan province.
But before Draghi has even left the bank's Frankfurt headquarters, attention is switching to Lagarde, a French former economy minister about to become the ECB's first female president. The move sparked fierce public criticism from some of the ECB governing council's 25 members, who argued it was too heavy-handed and robbed the bank of firepower in case of a mo re protracted downturn.
Lagarde, a lawyer by training, has already signalled that Draghi's easy-money legacy will be in safe hands. She is already echoing Draghi's calls for governments in the 19-nation currency union to use their fiscal leeway to help boost the economy – a plea she regularly made as IMF boss.
France Dernières Nouvelles, France Actualités
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