Economics
Lagarde Set for October Confirmation as Next ECB President
- EU finance ministers signed off on leaders’ deal in Brussels
- Attention has turned to who should replace Lagarde at IMF
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Christine Lagarde is set to be confirmed in October as the next president of the European Central Bank, after the region’s finance ministers formally signed off on the agreement reached by governments last week.
The recommendation at a meeting in Brussels means the nomination will now go to the ECB’s Governing Council and the European Parliament for consultation, though neither can block her. The European Union will then formally appoint her in time to replace Mario Draghi from Nov. 1.