Christine Lagarde, you know, as Head of the IMF around the world. Their word weight – during the Greek crisis or the US trade dispute with China. Now the 63-Year-old new ECB to be President.
Actually, a little bit of time, to occupy the Post of the top currency Keeper in the Eurozone, new is still. Until the end of October, the Italian Mario Draghi leaves office. Now, however, the heads of state and government of the EU agreed after your day-long staff poker is the top European jobs also, who’s going to lead according to Draghi, the European Central Bank (ECB). The election to the former Head of the International monetary Fund (IMF), Christine Lagarde, fell, is likely to surprise more than one. Disappointed, the head of the Bundesbank, Jens Weidmann, is expected to be, that many saw as Draghi’s successor.
Lagarde spoke via Twitter of a “big honor” and announced that, for the period up to the final appeal of your office as the IMF Head rest.
The IMF announced to take over for a Deputy chief David Lipton as acting head of the monetary Fund.
A Picture-Book Career
Already with 18 years, the native Parisian came to the circles of Power close: As an exchange student at an exclusive private school on the outskirts of the US capital, Washington often went to Christine Lagarde in the office of a prominent U.S. Republican and later us Secretary of defense William Cohen. Back in France, the daughter of a University Professor of English language and literature and a teacher of ancient languages at the Elite University Sciences Po in Aix-en-Provence and the University of Paris-Nanterre studied. Lagarde concluded her studies with a Magister degree in business law and English language and literature and has a postgraduate degree in social law, also a master’s degree.
Formative years as a commercial lawyer
In the case of the US law firm Baker & McKenzie from Chicago, has specialized since the beginning of the 1980s on competition and labour law. In 1987, she moved in the circle of the partners and directed from 1991, the Paris branch. From 1995 onwards, member of the management Board, was appointed in 1999 as “Madame Chairman” to the top of the now the world’s second-largest law firm for business law and moved to Chicago. She was the first woman in the Executive chair of the company, the it went to Lagarde’s statement at the time, so bad that no man wanted to do the Job. They reconstructed the company that implemented under her leadership in 2002 for the first time in the world to over a billion dollars. In 2004, Lagarde became Chairman of Global Strategy Committee at the company’s headquarters. In addition, she was 1995-2002 member of the Center for Strategic and International Studies, a think tank in the US capital, Washington.
Alone among men – the Story of your life
Crisis Manager on the world stage
At their stations in the French policy since 2005, including as Minister of economic Affairs under presidents Jacques Chirac and Nicolas Sarkozy made a name for himself as a crisis Manager during the world financial crisis and the rescue of the national bankruptcy threatened Greece. On the G8 and G20 summits, she was the only woman among her male Minister colleagues. Together with the then German Finance Minister, Wolfgang Schäuble, she was in may 2010, the first temporary crisis Fund, which consisted primarily of guarantees of the Euro countries. To date, the IMF Chief one of the of the Greek population hated faces of the creditors-the Troika is.
When then-IMF chief Dominique Strauss-Kahn resigned after rape allegations, was Christine Lagarde called at the end of June 2011 as the first woman on the seat of the head of the international monetary Fund.
Skeptical view: For Lagarde Trumps trade policy is one of the Central threats to the world konkjunktur
Since the appointment of Donald Trump, the IMF’s Boss, has rarely missed an opportunity for global free trade and to warn against protectionism. Since their time in the government headquarters in Paris, Lagarde is also considered as a tough advocate for the interests of France. Critics accuse her of, in the case of the Greek bailout packages, especially the interests of French banks in the eye had. Because mainly large banks from France had huge stocks of Greek government bonds in their vaults A Bust of Athens, they would have survived, if at all, only hard to hit.
Tapie affair, and court proceedings
In France, many people associate the name of Lagarde, however, with the so-called Tapie affair. She was, as the Minister responsible, that the close friend of the then President Sarkozy, Bernard Tapie, in 2008, received compensation in the amount of approximately 400 million euros at the expense of the French taxpayer. The reason: Tapie had been overreached in the sale of the sportswear company Adidas in 1993 by the former French state Bank Crédit Lyonnais. An indictment for aiding and abetting the embezzlement of public funds escaped Lagarde only just. The end of 2016, it has been found, however, from the “court of justice of the Republic of” because of “negligence in office” for guilty. On a penalty the judge refused, but due to “its international Reputation”.
Conviction without penalty: Lagarde in December 2016 before a court in Paris
Sporty, Vegetarian
Christine Lagarde is a vegetarian, does not drink alcohol, drives Yoga, swims and dives with a passion. Relaxation finds the 63-Year-old in the garden. It is no coincidence that the German magazine “Stern” the tall, always elegantly dressed lawyer years ago, missed the label “Preußin in Chanel”.
At the latest since her years as a business lawyer in Chicago, the mother of two sons speaks English as perfectly as her native language French. She is also a makers closely with decision-making in US politics and on Wall Street wired – for a European, a unique feature.
When she was asked at a book launch in Brussels in February 2014 by a journalist from the French newspaper “Le Figaro”, if you could even imagine a Top Job in the EU, she replied that time: “I’m not going to respond to your question, because that is not our focus, it is my focus.” A denial sounded quite different back then.
Other Monetary Policy?
In the coming months – should not be rejected on the personnel package by the European Parliament, is likely to develop a discussion on the future monetary policy of the ECB under the leadership of Christine Lagarde. The ultra course Draghi’s loose, she has always supported, even if it is not itself money a politician. Just a few days ago, as Mario Draghi reiterated his course once more, entered Lagarde him to the side and advised the Central banks to fight against the weakening economy, with “supportive monetary policy”. A Change in the Draghi-course is therefore not to be expected.
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