ecb president lagarde

[17] After her baccalauréat in 1973, she went on an American Field Service scholarship to the Holton-Arms School in Bethesda, Maryland. Christine Lagarde will replace the outgoing President, Mario Draghi, as of 1 November 2019. Between July 2011 and September 2019, she served as Chair and Managing Director of the International Monetary Fund (IMF). [84][85] Subsequently, in August 2014 the CJR announced that it had formally approved a negligence investigation into Lagarde's role in the arbitration of the Tapie case. ... ECB president Lagarde to speak later in the session. Lagarde was the first woman to become finance minister of a G8 economy and is the first woman to head each the ECB and IMF. [50] As the crisis peaked again in summer 2015, Lagarde's organization made headlines by calling for massive debt relief for Greece,[51] a call she reiterated personally. European Central Bank (ECB) president Christine Lagarde has made further comments regarding the digital euro, a topic that has been been gaining prominence in the ECB’s communications with the public. [5][6][7] Her appointment was the 11th consecutive appointment of a European to head the IMF. European Central Bank President Christine Lagarde discusses the current economic landscape and the limits of monetary policy to prop up growth in a … European Central Bank (ECB) president Christine Lagarde has urged EU countries to solve their disagreements over the €750bn (£670bn) recovery fund, … [80], On 3 August 2011, a French court ordered an investigation into Lagarde's role in a €403 million arbitration deal in favour of businessman Bernard Tapie. European Central Bank President Christine Lagarde promised a forceful monetary stimulus package in December and urged governments to … She drily referred to Greek tax avoidance, and assented to the interviewer's suggestion that Greeks had "had a nice time" but now "it is payback time. On 2 July 2019, Lagarde was nominated by the European Council to succeed Mario Draghi as President of the European Central Bank (ECB) on 1 November 2019. Lagarde and her three younger brothers spent their childhood in Le Havre. [57] To her accusations that not enough Greeks paid their taxes, Professor Emeritus John Weeks of the University of London retorted: "The moral weight of Christine Lagarde's matronising of the Greeks to pay their taxes is not strengthened by the fact that, as director of the IMF, she is in receipt of a tax-free annual salary of $468,000 (£298,000, plus perks). [81] On 20 March 2013, Lagarde's apartment in Paris was raided by French police as part of the investigation. Christine Lagarde, President of the European Central Bank (ECB), said in a statement on Thursday that she believes the ECB will proceed with the launch of a digital euro in the next two to four years. [69], In 2010 Lagarde, then finance minister of France, sent a list of 1,991 names of Greek customers who were potential tax avoiders with bank accounts at HSBC's Geneva branch to the Greek government. 10/09/2020 Christine Lagarde: Payments in a digital world. [48][49] According to Yanis Varoufakis, the combative former Finance minister of Greece, Lagarde and others at the top of the IMF have been quite sympathetic behind closed doors. Her father, Robert Lallouette, was a professor of English; her mother, Nicole (Carré),[13] was a Latin, Greek and French literature teacher. On 16 November 2009, the Financial Times ranked her the best finance minister in the Eurozone. Christine Lagarde, President of the European Central Bank, speaks to the media following a meeting of the ECB governing board. Christine Lagarde. European Central Bank (ECB) President Christine Lagarde (November 2019 - October 2027) is to speak. Lagarde is scheduled to speak at 0815 GMT today By Justin Low. [30] She was the only member of the French political class to condemn Jean-Paul Guerlain's racist remarks of 2010. There she attended the Lycée François 1er (where her father taught) and Lycée Claude Monet. Lagarde became the first woman to be elected as the head of the IMF. Daley, Suzanne. Lagarde said inflation in the 19-country bloc was now likely to remain negative for longer than expected as a second wave of the … Browse the ECB’s reports, publications and research papers and filter them by date or activity. Navigation Path: Home›About›Organisation›Decision-making›Christine Lagarde, We are always working to improve this website for our users. [9] In December 2016, a French court found her guilty of negligence relating to her role in the Bernard Tapie arbitration,[10] but did not impose a penalty. "[62], In January 2015, on the death of King Abdullah of Saudi Arabia, Lagarde said "he was a strong believer in pushing forward women's rights",[63] prompting a number of observers to comment on the life of women generally in Saudi Arabia. [38], U.S. Treasury Secretary Timothy Geithner said that Lagarde's "exceptional talent and broad experience will provide invaluable leadership for this indispensable institution at a critical time for the global economy. FILE PHOTO: European Central Bank (ECB) President Christine Lagarde gestures as she addresses a news conference on the outcome of the meeting of the … [8] She was reelected by consensus for a second five-year term, starting 5 July 2016, being the only candidate nominated for the post. [53], Questioned about her economic philosophy, Lagarde has described herself as "with Adam Smith—that is, liberal. *Lipton served as Acting Managing Director from 2 July 2019 – 12 September 2019 while Lagarde was on leave. Watch ECB President Christine Lagarde speak after latest policy decision Published Thu, Oct 29 2020 8:52 AM EDT Updated Thu, Oct 29 2020 9:31 AM EDT staff @CNBC [54], Lagarde was portrayed by Laila Robins in the HBO television film Too Big to Fail (2011), which was based on the popular non-fiction book of the same name by The New York Times journalist Andrew Ross Sorkin. ", "Interview : Christine Lagarde, la face cachée d'une femme de pouvoir", "Christine Lagarde stirs wistful memories for friends in Holton Arms Class of ’74", "Christine Lagarde (French lawyer and politician) – Encyclopædia Britannica", "Christine Lagarde : biographie – Le Nouvel Observateur", "Christine Lagarde, Eleventh Managing Director of IMF – Biographical Information", "Christine Lagarde élue à la tête du CA de Sciences po Aix – Educpros", "Firm Facts | Firm History | Baker & McKenzie", "Christine Lagarde, the eleventh European to head the IMF", "Christine Lagarde: Executive Profile & Biography", "Her Partners Can Call Her Ms. Chairman; Baker & McKenzie Takes Small Step for a Law Firm, Giant Leap for Womankind", "Décret du 18 mai 2007 relatif à la composition du Gouvernement", "Décret du 19 juin 2007 relatif à la composition du Gouvernement", "Christine Lagarde announces IMF candidacy", "IMF: US backs Christine Lagarde for top job", "Germany, Britain back Lagarde to lead IMF", "Soutiens européens à une candidature de Lagarde au FMI", "Lagarde suited to head IMF; India voted for her: Pranab", "France's Christine Lagarde wins IMF top job – Haaretz Daily Newspaper | Israel News", Oxfam has called for the public release of the transcript of Christine Lagarde’s interview with the IMF Board, "Lagarde peut rester à la tête du FMI (Sapin)", Christine Lagarde rules herself out of race for top jobs in EU, "IMF's Christine Lagarde nominated for top job at European Central Bank", IMF chief Christine Lagarde resigns following ECB nomination, "As IMF's New Chief, Will Lagarde 'Keep Smiling'? ", "IMF's Lagarde warns global economy threatened – Business – Stocks & economy | NBC News", "Greece seeks more time to meet bailout terms", "IMF Concedes It Made Mistakes on Greece", "Greece's creditors close to writing off some of its debt", "Exclusive: Yanis Varoufakis opens up about his five-month battle to save Greece", "IMF stuns Europe with call for massive Greek debt relief", "IMF steps up Greek bailout criticism over debt relief package", "IMF: No Cash Now for Greece Because Europe Hasn't Promised Debt Relief", "Christine Lagarde: Changing of the Guard", "Christine Lagarde: can the head of the IMF save the euro? ECB President Christine Lagarde says the impetus for a central bank digital currency could come from the need to facilitate cross-border finance. New York Times, 28 October 2013. [43], In July 2010, Lagarde told the PBS NewsHour that the IMF's lending program for distressed European countries was "a very massive plan, totally unexpected, totally counter-treaty, because it wasn't scheduled in the treaty that we should do a bailout program, as we did." The Council (Economic and Financial Affairs) then issued a formal recommendation on 9 July 2019. ", "It's payback time: don't expect sympathy – Lagarde to Greeks", "Irate Greeks vilify IMF chief on Facebook after she brands them tax dodgers", "Letters: IMF boss is in no position to preach", "Christine Lagarde attack on Greece backfires as she pays no tax", "TAXES IMF's Christine Lagarde: I Don't Pay Taxes, But You Should", "King Abdullah – a discreet but strong advocate of women, says IMF chief", "Lagarde calls King Abdullah 'advocate of women' – despite ban on driving", "Lagarde wins EU lawmakers' approval to lead ECB", "New President of the European Central Bank", "Lagarde Will Probably Keep ECB Stimulus Going, Stournaras Says", "Lagarde promises to paint the ECB green", "What can we hope from Christine Lagarde as ECB President? To do this, we use the anonymous data provided by cookies. [93], Meryl Streep based parts of Miranda Priestly's appearance in the feature film The Devil Wears Prada (2006) on Lagarde, citing her "unassailable elegance and authority". She said, "If I have one message tonight about Greece, it is to call on the Greek political opposition to support the party that is currently in power in a spirit of national unity. The United States in particular supported her speedy appointment in light of the fragility of Europe's economic situation. In 2019, Forbes ranked her number two on its World's 100 Most Powerful Women list. Lagarde will be speaking at the EPC Thought Leadership Forum The EU has recently encountered a historic challenge in terms of its response to … [18][19] During her year in the United States, Lagarde worked as an intern at the U.S. Capitol as Representative William Cohen's congressional assistant, helping him correspond with French-speaking constituents from his northern Maine district during the Watergate hearings. [32] Her candidacy received the support of the British, Indian, United States, Brazilian, Russian, Chinese and German governments. [91][92], The fashion magazine Vogue profiled Lagarde in September 2011. "[44], In public remarks made right after her appointment, Lagarde stated that both the IMF and EU required Greek austerity measures as a prerequisite for further aid. She committed to providing additional stimulus measures in the December meeting. "[46][47] A year later, though, with her own organization conceding that its "rescue" package for Greece had fallen short of what was required, Lagarde—having previously said that Greece's debt burden was "sustainable"—decided that Greece would not recover unless its debt was written off in a meaningful way. [65] Confirmed by the European Council in its October summit, Lagarde became the first woman to serve as ECB President. Christine Madeleine Odette Lagarde (French: [kʁistin madlɛn ɔdɛt laɡaʁd]; née Lallouette, IPA: [laluɛt]; born 1 January 1956) is a French politician, businessperson and lawyer serving as President of the European Central Bank since 1st November 2019. ECB set to expand bond-buying and cheap loans, Lagarde signals Bank president acknowledges ‘new challenges’ in Covid second wave Wed, Nov 11, 2020, 18:31 She handled major antitrust and labour cases, was made partner after six years and was named head of the firm in Western Europe. [67] When addressing the European Parliament's ECON Committee ahead of her appointment, Lagarde also expressed her willingness to make the ECB play a role in fighting climate change[68] and to carry out a review of the ECB's monetary policy framework. [66][65], As president, Lagarde is expected to maintain the accommodative monetary policy of her predecessor, Mario Draghi. Learn more about how we use cookies, We are always working to improve this website for our users. [33], On 28 June 2011, the IMF board elected Lagarde as its next managing director and chairman for a five-year term, starting on 5 July 2011. [17][22] Since 2010, she has presided over the Aix school's board of directors. [75][76] He was immediately arrested on charges of breaching privacy laws with a possible sentence of up to two years in prison. This comes a few weeks after she described the digital euro as a potential complement to cash, not a … Get an overview of what the European Central Bank does and how it operates. Oxfam, a charity working in developing nations, called the appointment process "farcical" and argued that what it saw as a lack of transparency hurt the IMF's credibility. On 17 September 2019, the European Parliament voted via secret ballot to recommend her to the position, with 394 in favor, 206 opposed, and 49 abstentions. "[57][58] In an effort to quell the negative response, the next day Lagarde updated her Facebook page with: "As I have said many times before, I am very sympathetic to the Greek people and the challenges they are facing. "[55][56] Her comments provoked controversy: Deputy Prime Minister of Greece Evangelos Venizelos said she had "insulted the Greek people", while Greek Prime Minister Alexis Tsipras declared: "We don't need her compassion. ECB to consider using climate risk to steer bond purchases, says Lagarde Central bank’s president flags possibility of including green factors when buying corporate bonds [11], Lagarde was born in Paris, France,[12] into a family of teachers. ... ECB's de Guindos: ECB … “How Policymakers Should Regulate Cryptoassets and Fintech”. [3] A noted antitrust and labour lawyer, Lagarde was the first female Chair of major international law firm Baker & McKenzie, between 1999 and 2004. [14][15][16] As a teenager, Lagarde was a member of the French national synchronised swimming team. [23], Lagarde joined Baker & McKenzie, a large Chicago-based international law firm, in 1981. In her recent interview with the L’ENA hors les murs magazine, Lagarde speaks about the future of money and why digitization is the way ahead.. As we enter the digital age, the nature of money is changing, I explain in @AnciensENA. Find out how the ECB promotes safe and efficient payment and settlement systems, and helps to integrate the infrastructure for European markets. [33][34][35][36][37] The governor of the Bank of Mexico (and former Secretary of Finance) Agustín Carstens was also nominated for the post. "[36] On 25 December 2011, Lagarde argued that the world economy was at risk and urged Europeans to unify in terms of the debt crisis facing the continent. [24][25][26][27], In 2004, Lagarde became president of the Global Strategic Committee. [5] Carstens would have been the first non-European. ECB president Christine Lagarde told a conference in Frankfurt on Wednesday that “the usefulness of such an approach could be examined” as part of the central bank’s strategy review. ", "The Controversial 'Lagarde List' Has Leaked, And It's Bad News for the Greek Prime Minister", "Greece arrests journalist over 'Lagarde List' banks leak", "Greek magazine editor in court for naming alleged tax evaders", "Greek officials accused of persecution as 'Lagarde List' journalist appears in court", "Greek journalist Kostas Vaxevanis acquitted in trial for naming alleged tax cheats (UPDATE)", "Greece shreds files on tax cheating by rich and powerful", "Christine Lagarde faces inquiry over €285m payout for Sarkozy ally | World news", "France – French police raid home of IMF boss Christine Lagarde", "IMF chief Christine Lagarde key witness in Tapie case", "Christine Lagarde accused over Bernard Tapie 'fraud' – Europe – World", "IMF managing director Christine Lagarde in court over money to disgraced tycoon Bernard Tapie in 2008 – Europe – World", "IMF's Christine Lagarde 'under investigation, "IMF chief Lagarde to stand negligence trial in France", "IMF's Lagarde to Face Trial for 'Negligence' in Tapie Case", "Tapie-Crédit lyonnais : Christine Lagarde renvoyée devant la justice", "Christine Lagarde, I.M.F. [39], On 17 December 2015, Michel Sapin, French Finance Minister, said that Lagarde could stay on as head of the IMF, despite being charged with criminal negligence. [4], On 5 July 2011, Lagarde replaced Dominique Strauss-Kahn as Managing Director of the IMF for a five-year term. "[54], In an interview in May 2012, Lagarde was asked about crisis-stricken Greece, but opted for a less than sympathetic response. Dig deeper into the ECB’s activities and discover key topics in simple words and through multimedia. [94], Lagarde presented the 2014 Richard Dimbleby Lecture, titled "A New Multilateralism for the 21st Century". [64], On 2 July 2019, Lagarde was nominated by the European Council to succeed Mario Draghi as President of the European Central Bank (ECB) on 1 November 2019. The ECB president poured cold water on rising investor optimism about a new vaccine after U.S. drugmaker Pfizer Inc PFE.N said on Monday … [45], In July 2012, as the Greek economy continued to decline, and the country's leaders asked for an easing of the terms of external assistance, Lagarde said she was "not in the negotiation or renegotiation mood at all. Key figures and latest releases at a glance. Discover more about working at the ECB and apply for vacancies. Contribution by Christine Lagarde, President of the ECB during the session “Economic, financial and monetary impact of COVID-19 pandemic, and post-crisis options for policies and tools” English. Her appointment came amid the intensification of the European sovereign debt crisis especially in Greece, with fears looming of loan defaults. Christine Lagarde, the current president of the European Central Bank (ECB), has once again spoken in favor of the Digital Euro. Chief, Is Found Guilty of Negligence", "Winners and Nominees for the 83rd Academy Awards", "New IMF chief portrayed in HBO's 'Too Big To Fail, Nationalism could destroy global economy, warns Christine Lagarde, Inequality increasing globally including in India: Christine Lagarde, "Top 100 Leaders from Multilateral Organisations: From Christine Lagarde to António Guterres, These Are the Most Influential People in the NGO Sphere", "KU Leuven awards honorary doctorate to Christine Lagarde, IMF chief – KU Leuven", "Université de Montréal presents honorary doctorate to Christine Lagarde", "Christine Lagarde – La biographie de Christine Lagarde avec", "Xavier Giocanti, le mari de... 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Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. Source: A screenshot, Instagram/europeancentralbank. In a tweet, she asked European stakeholders to provide their opinions on the proposed CBDC in a survey. [5][6][7] The IMF's executive board praised both candidates as well-qualified, but decided on Lagarde by consensus. "[60][61] In her defense, "No taxes is the norm for most United Nations employees covered by a convention on diplomatic relations signed by most nations. James Politi, Sam Fleming and Alex Barker (12 September 2018). [40] Throughout her time at the IMF, she has repeatedly ruled herself out of the races to secure a top job in Europe, including the positions of President of the European Commission or President of the European Central Bank. [29] The following month she joined Fillon's cabinet in the Ministry of Economic Affairs, Finance and Employment. [31], On 25 May 2011, Lagarde announced her candidacy to be head of the IMF to succeed Dominique Strauss-Kahn, upon his resignation. "Greece's Aggressive Pursuit of Tax Offenders Appears to Collect More Anger Than Money." [citation needed] Since 2006, her partner has been the entrepreneur Xavier Giocanti from Marseille. [77] After a public outcry, Vaxevanis was found not guilty three days later. Confirmed by the European Council in its October summit, Lagarde became the first woman to serve as ECB President. [87][88][89] In December 2016, the court found Lagarde guilty of negligence, but declined to impose a penalty. ECB President Lagarde has laid down a gloomy picture of the economy under the second covid wave. The European Central Bank will focus on more emergency bond purchases and cheap loans for banks when it puts together its new stimulus package next month to help the pandemic-hit euro zone economy, ECB President Christine Lagarde said on Wednesday. On 18 May 2007, she was moved to the Ministry of Agriculture as part of the government of François Fillon. A few days before the Greek general elections of January 2015, when it was clear that left-wing Syriza would come to power, the financial crimes police of the conservative government of Antonis Samaras shredded reams of documents pertaining to corruption cases. She joined the executive committee in 1995 and was elected the company's first female chairman in October 1999. His candidacy was supported by many Latin American governments, as well as Spain, Canada and Australia. Look at press releases, speeches and interviews and filter them by date, speaker or activity. Christine Lagarde, President of the European Central Bank (ECB), is scheduled to deliver her remarks on the monetary policy outlook in a press conference at 12:30 GMT. ECB President Christine Lagarde is talking about the digital euro again. [42] On 17 September 2019, the European Parliament voted via secret ballot to recommend her to the position, with 394 in favor, 206 opposed, and 49 abstentions. As the European Central Bank (ECB) is intensifying its efforts to roll out a digital euro, Christine Lagarde, President of the ECB… "[59] Within 24 hours, over 10,000 comments had been left in response, many of them obscene. [2], Lagarde previously held various senior ministerial posts in the Government of France: she was Minister of Commerce (2005–2007), Minister of Agriculture and Fishing (2007) and Minister of the Economy, Finance and Industry (2007–2011). [28], As France's Trade Minister between 2005 and May 2007, Lagarde prioritized opening new markets for the country's products, focusing on the technology sector. [41] However, on 2 July 2019, Lagarde was nominated to serve as the next president of the ECB, to succeed Mario Draghi. [95][96], Lagarde is divorced and has two sons, Pierre-Henri Lagarde (born 1986) and Thomas Lagarde (born 1988). Discover euro banknotes and their security features and find out more about the euro. [83] According to a press report from June 2013, Lagarde was described by Stéphane Richard, the CEO of France Telecom (a former aide to Lagarde when she was finance minister), who was himself put under formal investigation in the case, as having been fully briefed before approving the arbitration process which benefitted Bernard Tapie. [18][19] She graduated from Paris West University Nanterre La Défense, where she obtained master's degrees in English, labor law, and social law. 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FILE PHOTO: European Central Bank (ECB) President Christine Lagarde gestures as she addresses a news conference on the outcome of the meeting of the … Lagarde also stated that stablecoins pose serious risks. The president of the European Central Bank (ECB), Christine Lagarde, shared her view on the future of money in an article published Monday in L’ena hors les murs magazine. [78] Vaxevanis then faced a retrial (the Greek authorities were yet to charge anyone on the list),[79] but was acquitted again. When Christine Lagarde started as president of the ECB in November last year, one of her goals was to improve the central bank’s communication, particularly with the general public. [42] She subsequently submitted her resignation as managing director. To do this, we use the anonymous data provided by cookies. President of the European Central Bank Chair of the European Systemic Risk Board Member of the Board of Directors at the Bank for International Settlements Member of the G7 Member of the G20 2011-2019 Managing Director of the International Monetary Fund, Washington, D.C. 2007-2011 Minister of Economy and Finance of France Minister of the Economy, Finance and Industry, Paris West University Nanterre La Défense, European Bank for Reconstruction and Development, Academy Award for Best Documentary Feature, popular non-fiction book of the same name, "The disarming charm of Christine Lagarde", "IMF's Christine Lagarde resigns as Managing Director", "Christine Lagarde: The 'rock star' of finance", "IMF Executive Board Selects Christine Lagarde as Managing Director", "Lagarde wins IMF top job, presses Greece on crisis", "IMF's Lagarde re-elected to second term", "IMF head convicted of criminal charges over massive government payout", "Christine Lagarde - La biographie de Christine Lagarde avec", "La mujer que oculta acero tras la sonrisa", "Is this the world's sexiest woman (and the most powerful)? [82] On 24 May 2013, after two days of questioning at the Court of Justice of the Republic (CJR), Lagarde was assigned the status of "assisted witness", meaning that she herself was not under investigation in the affair. ECB president Christine Lagarde says bond-buying is the central bank's preferred tool to manage monetary policy right now. With respect to the French economy, she stated that besides short-term stimulus efforts: "we must, very decisively, cut our deficit and reduce our debt. [90], Lagarde was interviewed in the documentary film Inside Job (2010), which later won an Academy Award for Best Documentary Feature. [20][21] She also holds a master's degree from the Institut d'études politiques in Aix-en-Provence. [52] In 2016, the IMF refused to participate with eurozone countries in further emergency financing for Greece, because concrete measures to relieve the country of its debt burden remained absent. "[7] President Nicolas Sarkozy referred to Lagarde's appointment as "a victory for France." [86] On 17 December 2015, the CJR ordered Lagarde to stand trial before it for alleged negligence in handling the Tapie arbitration approval. "[7] She said of her predecessor that: "The IMF has taken up the challenges of the crisis thanks to the actions of [Managing Director] Dominique Strauss-Kahn and to his team as well. She also said, "we had essentially a trillion dollars on the table to confront any market attack that would target any country, whether it's Greece, Spain, Portugal, or anybody within the eurozone." Read about the ECB’s monetary policy instruments and see the latest data on its open market operations. [102], A health-conscious vegetarian who rarely drinks alcohol,[103][104][105][54] Lagarde's hobbies include regular trips to the gym, cycling, and swimming.[16]. “I’m going to be myself, and therefore probably different,” Christine Lagarde declared in a defining monologue at her first press conference as European Central Bank(ECB) president in late 2019. [74], On 28 October 2012, Greek reporter and editor Kostas Vaxevanis claimed to be in possession of the list and published a document with more than 2,000 names in his magazine Hot Doc. ECB'S LAGARDE SAYS CLEAR DETERIORATION IN NEAR TERM OUTLOOK ECB’s Lagarde: Virus Resurgence Presents New Challenges ECB’s Lagarde: Virus Recovery Losing Momentum Faster Than Expected ECB President Christine Lagarde: -Economy is losing momentum faster than expected -Consumers are cautious in light of the pandemic -Uncertainty is weighing on business investment … But after almost a year in office, Lagarde’s communication on monetary policy seems to fall behind her predecessor but other ECB members seem to be filling the gap On 2 July 2019, the European Council considered Christine Lagarde to be the appropriate candidate for President of the European Central Bank.

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