As a former synchronized swimmer, it is usual Christine Lagarde (63), to smile even if under the surface of the water start with the legs already in pain. With this experience, the French will weglächeln all the critics that find her nomination as the successor to ECB President Mario Draghi (71) is not such a convincing idea. The Head of the International monetary Fund IMF, should on 1. November is the successor to Draghi compete, your choice apply as a matter of form.
among those critics is also Urs Birchler (69), Emeritus Professor of banking Professor at the University of Zurich and a long-standing national bankers. Not that Birchler had something to suspend the qualification of the former French Finance Minister, who he met at international conferences personally. Also doesn’t it bother him that with Lagarde, in the future, a lawyer at the top of the ECB will stand. Her future counterpart, Jerome Powell (66) of the US Central Bank is also not a trained Economist.
there’s No room for Swiss monetary policy
What Birchler bother, but really: With the changing of the guard at the head of the European Central Bank there are no signs of monetary policy reversal. “Would Lagarde to stand for a different monetary policy, the Euro would need to appreciate sharply.” He didn’t do but, yesterday like today, the Euro is worth 1.11 Swiss francs.
The choice of Lagarde has consequences for Switzerland: “the environment in which Swiss monetary policy will not change.” This means that interest rates will remain for a long time is low, or even negative. Bad news for savers and pension funds.
Also, if money is political change: Lagarde stands for renewal. The vegetarian and Abstinenzlerin is very for women’s, and mixed Teams, also because she knows from personal experience how it feels to have to as the only woman in a man’s body to tell where it goes long.
Because Lagarde is not only the first woman to head the ECB, in front of her, there was no IMF Boss, or a French Finance Minister. And thanks to Lagarde, the IMF has for the first Time in history, a chief economist. From Lagarde, the spell originates, the financial crisis would have turned out differently, if the “Lehman Brothers” “Lehman Sisters” would have been.
relaxation Yoga and gardening
The graduate of the French elite universities, knows what she’s talking about: During the financial crisis, she has made a reputation as a crisis Manager. Legendary is the so-called Lagarde list: a list of Greek tax Dodgers, which was in Athens for some political turmoil.
Also a plus point for Lagarde: Since your time at the top of the global law firm Baker & McKenzie in Chicago– there you are has proven itself as a crisis Manager – maintains excellent contacts to decision-makers in American politics and the economy.
Also with Switzerland, Lagarde is very well-connected. Regularly, the IMF Chief was as a Participant at the world economic forum (WEF) in Davos. In the Swiss mountains you will return as ECB Chief. Particularly well Lagarde, the former top Swiss Central banker, Philipp Hildebrand (55) and his partner, the multi-billionaire Margarita Louis-Dreyfus (57) is friends. How engtdie friendship of two powerful business women, as evidenced, among other things, a very warm hug at a Meeting at the WEF in 2014, as one could observe.
without a scratch, the images was not, however, book career the mother of two sons: The deepest scratches left by the affair Tapie. Lagarde was, as the Minister, for a dubious payment of 400 million euros to Bernard Tapie in connection with the sale of sportswear company Adidas are responsible. The a was years later convicted of “negligence in office”. On a penalty, however the judges have dispensed with.
Also, this crisis has been handled Lagarde with a Smile. The elegant and tall French helps that she drives regularly in Yoga, or relaxation in garden work.