What to expect from the new ECB head, Christine Lagarde?
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What to expect from the new ECB head, Christine Lagarde?

Margaret Thatcher once said: In politics, if you want anything said, ask a man. If you want anything done, ask a woman. After eight years in charge of the European Central Bank Mario Draghi has handed over his presidency to Christine Lagarde. Mario Draghi recognized the need for
incentive measures and regularly talked about adopting negative rates. And now, having agreed that the strategy of printing money will not revive the economy amid global economic pessimism, Draghi passes the chair of the
European regulator to Christine Lagarde She will be the first woman to ever head the ECB. But this is not her only merit. Christine Lagarde deserves special
attention and recognition. Christine Lagarde has been striving to be
the first since her childhood when she was a member of the French national synchronized swimming team and became the bronze
medalist in the national championship. She started her career as a professional lawyer in Chicago. In 1999, Christine became the first woman to run one of the world’s largest law firms, Baker & McKenzie, and it was under the leadership of Lagarde when the company earned its first billion dollars. Two years earlier, Christine Lagarde was ranked the 5th most outstanding business woman in Europe, according to The Wall Street Journal. In 2005, Christine entered a new stage in her career: she returned to France and became
French Minister Delegate of Foreign Trade. Later, she joined the Ministry of Agriculture and the Ministry of Economic Affairs of France becoming the first woman in charge of economic policy in France. However, Lagard can’t be described as a sensitive and gentle leader. On the contrary, she was often criticized for her harsh and straightforward comments: “If the gasoline is too expensive, the French should use their bicycles instead.” Journalists have already compared
Lagard to Marie Antoinette who once said: “The people have no bread? Let them eat cake.” After 6 years of successful political career, Christine Lagarde replaced notorious Dominique Strauss-Kahn and became the first female leader of the International Monetary Fund. Christine was holding the post for two terms in a row. She was listed among the top-ten most
influential women in the world by Forbes magazine. In 2016, Lagard even appeared on top of this rating. While being the managing director of the IMF, Christine supported the decision to include the Chinese yuan to the currency basket. She also defended the voting rights of developing countries in addressing key issues and helped to wipe off the external debt of Greece. So, now it is interesting to observe how Christine will act as the ECB president, given her dedication to flexible and effective response to the needs of other states.

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1 thought on “What to expect from the new ECB head, Christine Lagarde?

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