Christine Lagarde : the New President of the ECB

The European Central Bank announced on Thursday it had “no objection” to the nomination of Christine Lagarde as its new president, noting that Lagarde has the experience and competence required for the job.

“The Governing Council has no objection to the proposed candidate, Christine Lagarde, who is a person of recognised standing and professional experience in monetary or banking matters,” the ECB said.

The ECB’s announcement is a formal step towards Lagarde’s appointment by euro zone governments. She would then replace Mario Draghi on the first of November.

Reeuters