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.

(Source: Bloomberg)