EU Leaders Nominate Lagarde for ECB President: Summit Update
- Christine Lagarde is set to swap the IMF for the ECB, replacing Mario Draghi at the central bank just as the bloc's economy looks in need of fresh stimulus.
- Investors will likely bet that as a seasoned crisis-fighter, Lagarde will share Draghi’s taste for aggressive and innovative monetary policy.
- German Defense Minister Ursula von der Leyen was nominated to be the next European Commission head.
- The selections, which must be ratified by parliament, mark the first female leaders for both institutions.