Managing director and chair of the International Monetary Fund Christine Lagarde has been nominated by the European Council as its candidate to replace Mario Draghi as president of the European Central Bank (ECB).
Lagarde, who is not a trained economist, was selected alongside a number of nominations for senior EU roles in a special meeting of the bloc's executives on Monday (2 July), which also saw Ursula von der Leyen nominated as president of the European Commission. Commenting on her appointment, council President Donald Tusk said her "international background and standing as current managing director of the International Monetary Fund", makes Lagarde a "perfect" candidate. ECB to keep interest rates at 0% until mid-2020 However, the confirmation of France's former finance minister Lagar...
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