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BRUSSELS 17-09-2019 / WAM
Christine Lagarde, the ECB’s presidential candidate in Frankfurt, received the support of the European Parliament in a public vote today.
Before the vote, Lagarde sent written answers to members of the European Parliament and presented her thoughts personally at a public hearing organized by the Committee on Economic and Monetary Affairs on 4 September.
“The commitment of the ECB and its presidents to preserve the single currency with concrete measures has made a fundamental contribution to the protection of the euro and to the well-being of all European citizens,” she said.
She added that Lagarde’s answers to questions from members of the European Parliament showed “her awareness of the tasks and challenges ahead and her suitability to pursue the mission.”
Lagarde was nominated by EU leaders in July to replace outgoing ECB President Mario Draghi from November 1. Lagarde has served as IMF director since 2011. Prior to that, she held several ministerial positions in France including the post of minister. Economy, Finance and Industry.
The heads of the European Central Bank are appointed for a non-renewable eight-year term by the heads of state or government of the European Union, but the European Parliament must be consulted in advance.
Lagarde is the first woman president of the European Central Bank.
A fundamental principle of the ECB’s work is its political independence, which means it should be free to pursue its goal of maintaining price stability without political pressure.
The ECB president also presents the bank’s annual report at a session of parliament and answers in writing to written questions from members of the European Parliament.
