Recently, Christine Lagarde has been officially appointed President of the European Central Bank. “The European Council appointed Christine Lagarde to be the President of the European Central Bank for a non-renewable term of 8 years,” says an official statement published on the website of the European Council press centre. Outgoing President Mario Draghi will leave the office on November 1, 2019. Lagarde's appointment has not become unexpected. Back in July, when the European Council considered her to be the appropriate candidate it became clear what market participants and the ECB staff should prepare for. Thereupon, at the next plenary session, the European Parliament, acting by a qualified majority, appointed the former head of the IMF as President of the European Central Bank. Therefore, the latest European Council conclusion is purely formal. Here are some facts about Christine Lagarde’s career history. She has been Managing Director of the International Monetary Fund since 2011 and, among other things, was the Minister of the Economy, Finance and Industry of France.
