EU seals Lagardes ECB appointment

EU leaders formally appointed Christine Lagarde Friday to become European Central Bank president on November 1.

The former International Monetary Fund boss and French finance minister will serve a nonrenewable eight-year term as president, succeeding Mario Draghi.

Lagarde tweeted her “sincere thanks to European leaders.” She said, “It is an honour to succeed Mario Draghi. I am looking forward to working with the ECBs talented staff to keep euro area prices stable and banks safe.”

Government leaders officially completed the ECB selection process during a summit meeting in Brussels. Their approval was ceRead More – Source