IMF’s Lagarde considered to be ECB President from the EU job plan

EU leaders are considering making International Monetary Fund director Christine Lagarde as the next president of the ECB, according to reports by officials at a summit in Brussels on Tuesday.

Lagarde is on the top list of candidates for the highest EU positions, which leaders, lawmakers and parties have been quarreling since Sunday.

Successive plans have been proposed, debated and then overturned during negotiations that are also seeking a head of the European Commission, a foreign policy chief, a president of the EU parliament, and a bloc’s chairman.

The name of the French director of the IMF also came to previous combinations that fell due to disagreements over who would chair the commission. The presidency of the EU executive province is the key point it involves because it requires the approval of an unstable and fragmented European Parliament.

German Defense Minister Ursula von der Leyen is emerging as the latest frontfunner to take over the post since the eastern European states and the EPP, the center-right political party of Europe, opposed a weekend pack that the Dutch Socialist would have seen Frans Timmermans commission.

According to EU horsetrading culture, the top five posts are interconnected so Lagarde’s candidacy for central bank work depends on leaders and lawmakers agreeing for the rest of the proposal.

Prior to joining the IMF, she was France’s finance minister. Lagarde, 63, would become the first ECB president who is not a professional and second French economist to run the Frankfurt-based institution./Investing.com

 

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