[41] However, on 2 July 2019, Lagarde was nominated to serve as the next president of the ECB, to succeed Mario Draghi. [42] She subsequently submitted her resignation as managing director. [31], On 25 May 2011, Lagarde announced her candidacy to be head of the IMF to succeed Dominique Strauss-Kahn, upon his resignation. [11], Lagarde was born in Paris, France,[12] into a family of teachers. [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. To do this, we use the anonymous data provided by cookies. [8] She was reelected by consensus for a second five-year term, starting 5 July 2016, being the only candidate nominated for the post. 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. 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. On 2 July 2019, the European Council considered Christine Lagarde to be the appropriate candidate for President of the European Central Bank. [3] A noted antitrust and labour lawyer, Lagarde was the first female Chair of major international law firm Baker & McKenzie, between 1999 and 2004. European Central Bank (ECB) president Christine Lagarde has urged EU countries to solve their disagreements over the €750bn (£670bn) recovery fund, … 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 10/09/2020 Christine Lagarde: Payments in a digital world. 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[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. [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. In 2019, Forbes ranked her number two on its World's 100 Most Powerful Women list. Christine Lagarde, President of the European Central Bank, speaks to the media following a meeting of the ECB governing board. [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. [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). ... ECB's de Guindos: ECB … 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. "[54], In an interview in May 2012, Lagarde was asked about crisis-stricken Greece, but opted for a less than sympathetic response. [66][65], As president, Lagarde is expected to maintain the accommodative monetary policy of her predecessor, Mario Draghi. ", "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. On 18 May 2007, she was moved to the Ministry of Agriculture as part of the government of François Fillon. New York Times, 28 October 2013. Daley, Suzanne. Her appointment came amid the intensification of the European sovereign debt crisis especially in Greece, with fears looming of loan defaults. 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. Get an overview of what the European Central Bank does and how it operates. European Central Bank President Christine Lagarde promised a forceful monetary stimulus package in December and urged governments to … [75][76] He was immediately arrested on charges of breaching privacy laws with a possible sentence of up to two years in prison. ", "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? [90], Lagarde was interviewed in the documentary film Inside Job (2010), which later won an Academy Award for Best Documentary Feature. 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." The United States in particular supported her speedy appointment in light of the fragility of Europe's economic situation. [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. In a tweet, she asked European stakeholders to provide their opinions on the proposed CBDC in a survey. 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. [17] After her baccalauréat in 1973, she went on an American Field Service scholarship to the Holton-Arms School in Bethesda, Maryland. [53], Questioned about her economic philosophy, Lagarde has described herself as "with Adam Smith—that is, liberal. 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. [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. [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. [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. FILE PHOTO: European Central Bank (ECB) President Christine Lagarde gestures as she addresses a news conference on the outcome of the meeting of the … She handled major antitrust and labour cases, was made partner after six years and was named head of the firm in Western Europe. European Central Bank (ECB) President Christine Lagarde (November 2019 - October 2027) is to speak. As the European Central Bank (ECB) is intensifying its efforts to roll out a digital euro, Christine Lagarde, President of the ECB… Lagarde said inflation in the 19-country bloc was now likely to remain negative for longer than expected as a second wave of the … 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 [4], On 5 July 2011, Lagarde replaced Dominique Strauss-Kahn as Managing Director of the IMF for a five-year term. Christine Lagarde will replace the outgoing President, Mario Draghi, as of 1 November 2019. [citation needed] Since 2006, her partner has been the entrepreneur Xavier Giocanti from Marseille. [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. "[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. 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. Lagarde and her three younger brothers spent their childhood in Le Havre. Source: A screenshot, Instagram/europeancentralbank. 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. ", "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'? [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. 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... Christine Lagarde", Christine Lagarde collected news and commentary, "Christine Lagarde collected news and commentary", https://en.wikipedia.org/w/index.php?title=Christine_Lagarde&oldid=991799845, Commanders of the Order of Agricultural Merit, French Ministers of Commerce and Industry, Managing directors of the International Monetary Fund, Articles with dead external links from January 2018, Articles with permanently dead external links, Articles with unsourced statements from August 2019, Wikipedia articles with SUDOC identifiers, Wikipedia articles with WORLDCATID identifiers, Creative Commons Attribution-ShareAlike License, 2012 – 8th Most Powerful Woman in the World, named by, 2013 – 7th Most Powerful Woman in the World, named by, 2014 – 5th Most Powerful Woman in the World, named by, 2015 – 6th Most Powerful Woman in the World, named by, 2016 – 6th Most Powerful Woman in the World, named by, 2017 – 8th Most Powerful Woman in the World, named by, 2017 – #1 in the List of 100 Most Influential People in Multinational Organisations, awarded by UK-based company Richtopia, 2018 – 3rd Most Powerful Woman in the World, named by, 2019 – CARE Humanitarian Award, awarded by, 2019 – Distinguished International Leadership Award, awarded by the, 2019 – 2nd Most Powerful Woman in the World, named by, This page was last edited on 1 December 2020, at 21:55. "[7] President Nicolas Sarkozy referred to Lagarde's appointment as "a victory for France." 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. 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 [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. [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. [18][19] She graduated from Paris West University Nanterre La Défense, where she obtained master's degrees in English, labor law, and social law. [29] The following month she joined Fillon's cabinet in the Ministry of Economic Affairs, Finance and Employment. [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. "[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. Look at press releases, speeches and interviews and filter them by date, speaker or activity. 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 … This comes a few weeks after she described the digital euro as a potential complement to cash, not a … The Council (Economic and Financial Affairs) then issued a formal recommendation on 9 July 2019. [65] Confirmed by the European Council in its October summit, Lagarde became the first woman to serve as ECB President. 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. [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. Christine Lagarde, the current president of the European Central Bank (ECB), has once again spoken in favor of the Digital Euro. [87][88][89] In December 2016, the court found Lagarde guilty of negligence, but declined to impose a penalty. [95][96], Lagarde is divorced and has two sons, Pierre-Henri Lagarde (born 1986) and Thomas Lagarde (born 1988). Lagarde also stated that stablecoins pose serious risks. [5][6][7] The IMF's executive board praised both candidates as well-qualified, but decided on Lagarde by consensus. [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]. 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. ... ECB president Lagarde to speak later in the session. *Lipton served as Acting Managing Director from 2 July 2019 – 12 September 2019 while Lagarde was on leave. 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. 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 [81] On 20 March 2013, Lagarde's apartment in Paris was raided by French police as part of the investigation. "[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. [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. Lagarde will be speaking at the EPC Thought Leadership Forum The EU has recently encountered a historic challenge in terms of its response to … 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. [78] Vaxevanis then faced a retrial (the Greek authorities were yet to charge anyone on the list),[79] but was acquitted again. European Central Bank President Christine Lagarde discusses the current economic landscape and the limits of monetary policy to prop up growth in a … [17][22] Since 2010, she has presided over the Aix school's board of directors. [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. 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. 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 CNBC.com staff @CNBC [23], Lagarde joined Baker & McKenzie, a large Chicago-based international law firm, in 1981. Read about the ECB’s monetary policy instruments and see the latest data on its open market operations. To do this, we use the anonymous data provided by cookies. Lagarde is scheduled to speak at 0815 GMT today By Justin Low. “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. [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. Browse the ECB’s reports, publications and research papers and filter them by date or activity. 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. "[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. Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. "[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. [14][15][16] As a teenager, Lagarde was a member of the French national synchronised swimming team. [86] On 17 December 2015, the CJR ordered Lagarde to stand trial before it for alleged negligence in handling the Tapie arbitration approval. Navigation Path: Home›About›Organisation›Decision-making›Christine Lagarde, We are always working to improve this website for our users. 9 July 2019 the proposed CBDC in a survey Lagarde 's appointment ``. Female chairman in October 1999 and settlement systems, and helps to integrate the for... Fragility of Europe 's Economic situation holds a master 's degree from the d'études... Digital euro again as Acting Managing Director website for our users [ 30 ] she was moved to the of. 91 ] [ 25 ] [ 7 ] President Nicolas Sarkozy referred Lagarde. [ 12 ] into a family of teachers in 1995 and was the. Filter them by date, speaker or activity preferred tool to manage monetary policy instruments and the... Bank does and how it operates 's degree from the Institut d'études politiques in.... 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