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Christine Lagarde appointment: EU leaders have sent a powerful signal about the future of the eurozone

The likely next head of the European Central Bank will cement its reinvention under Mario Draghi

By Paul Wallace  
July 3, 2019

IMF chief and likely the next European Central Bank president. Photo: Ting Shen/Xinhua News Agency/PA Images

In choosing Christine Lagarde, the French head of the International Monetary Fund, to lead the European Central Bank, EU leaders have thrown convention to the wind. For one thing, a woman will now be Europe’s top central banker for the first time in the ECB’s 21-year history. That is welcome. For another, she will be the first person to hold that post without any experience as a central banker. That is less so.

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Paul Wallace

Paul Wallace is the former European Economics Editor of the Economist. He is the author of "The Euro Experiment" (Cambridge University Press)

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