EU leaders rubber stamp Lagarde’s ECB appointment

Business

BRUSSELS (AP) — European Union leaders have approved the appointment of Christine Lagarde as the next president of the European Central Bank.

The former International Monetary Fund managing director will replace Mario Draghi, who has served as ECB president since 2011.

The European Council had already issued a formal recommendation for Lagarde, and Friday’s move was just a confirmation after the European Parliament and the ECB also supported her.

The ECB sets monetary policy for the 19 countries that use the euro currency.

Lagarde will take office on Nov. 1 and will serve a non-renewable term of eight years.

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Don’t Miss

Join the Pro Football Challenge
Sunday Morning Matters
MedWatch Today
Hispanic Heritage
Bulldog Insider: The Podcast
The Valley's Armenia
Pros Who Know

CBS47 On Your Side

Do you have a problem that you need help solving? Contact Investigative Reporter Erik Rosales and let him be

On Your Side.

Email erikrosales@cbsfresno.com