EU Parliament approves Christine Lagarde as next ECB chief

EU Parliament approves Christine Lagarde as next ECB chief
# 17 September 2019 14:42 (UTC +04:00)

France's Christine Lagarde secured the backing of the European Parliament to become the next president of the European Central Bank following a vote on Tuesday, APA reports.

The former head of the International Monetary Fund was nominated in July for the role to succeed Italian economist Mario Draghi.

Lagarde — who will be formally appointed to the post by EU leaders in October — will be the first woman to helm the ECB.

The European Central Bank (ECB) is responsible for the administration of the euro currency within the 19 Eurozone countries and overseeing monetary policy in the EU. Her nomination comes at a contentious time, as the current president, Draghi, this month announced measures to ensure that the euro meets its inflation target of just below 2%.

Ahead of the vote EU lawmakers debated Lagarde's candidacy and the role of the ECB and the future of the eurozone.

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THE OPERATION IS BEING PERFORMED