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And So, Christine Lagarde Will Try To Fill The Big Shoes
Well, it's official (basically).
Christine Lagarde will be the next ECB President.
"I am honored to have been nominated for the Presidency", she said Tuesday afternoon. 'In light of this, and in consultation with the Ethics Committee of the IMF Executive Board, I have decided to temporarily relinquish my responsibilities as IMF Managing Director during the nomination period".
This was tipped ahead of time and it will mark a break with precedent in that Lagarde is more politician than economis
I was hoping she would be nominated and hope she wins the nomination. She has been ‘a steady hand’ at the IMF. She will have a staff replete with many economists, like Powell has, and likely benefits from her broader view of reality in Europe and the world at large.
Ms. Lagarde survived and prospered serving two terms as the mayor of Paris
She will use all of those well honed political skills to deal with the folks at the Puzzle Palace in Frankfurt
When the EU formerly acknowledges their recession be assured Ms. Lagarde will shine!