Is Putting Christine Lagarde in Charge of the European Central Bank a Good Decision?

Christine Lagarde's appointment as the President of the European Central Bank (ECB) has been a topic of much debate. Her appointment was based on her extensive experience and leadership qualities. However, the question of whether she is the most suitable choice remains subjective.

Choosing a New Central Banking Methodology

Arguably, appointing Lagarde might be a good decision, but it is also important for EU countries to be prepared for a shift in central banking methodology. The current method, spearheaded by Mario Draghi and his team, has involved quantitative easing to address the financial situations of EU countries.

However, this approach has not been entirely effective. France, Spain, Italy, and eastern EU countries still face challenging economic conditions. The effectiveness of monetary policy may have reached its limit, and it is crucial to explore alternative strategies.

Recipe for Change: Lagarde's Plan

Lagarde is anticipated to use the currency to finance economic plans in various EU countries, similar to the IMF bailouts she has been managing. This approach aims to ensure that all countries contribute positively to the EU financial situation. Her initial task will likely focus on helping Ireland manage the potential fallout from a no-deal Brexit. Some economists predict that a no-deal Brexit could result in an EU-wide job loss of approximately 1 million jobs.

Qualifications of Christine Lagarde

Christine Lagarde is undoubtedly well-qualified for this position. Her educational background is extensive and impressive:

Bachelor's degree Masters in English labor law and social law Masters from the Political Science Institute in Aix-en-Provence

Her commercial experience is equally commendable:

Lawyer at Baker McKenzie, rising from partner to chair of the company in 17 years Trade and Agriculture minister in France Minister for Economic Affairs in the French government

Lagarde has also held significant international positions:

Managing Director and Chair of the International Monetary Fund (IMF)

Multifaceted in her experience, Lagarde possesses the academic education, legal knowledge, political acumen, and international banking expertise necessary for the ECB presidency. Her ability to navigate international diplomacy and her respect among world leaders make her a valuable asset for EU countries.

Leadership and Reputation

Most importantly, Lagarde is highly respected and seen as a calm and measured individual who can work constructively with country leaders. Her leadership qualities and reputation make her a strong candidate for the position.