Signs of recession are hitting Europe. Is the new Central Bank president up for the challenge?
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By Marshall Auerback This article was originally published on AlterNet and produced by Economy for All, a project of the Independent Media Institute. We now know that there will be a changing of the guard at the European Central Bank (ECB) in October. The current head of the International Monetary Fund (IMF), Christine Lagarde, will succeed current ECB President Mario Draghi at that time.
Lagarde is good at implementing majority consensus decisions, as she did on Greece. She is a follower who postures as a leader, which isn't what the EZ needs in a crisis.
Lagarde is good at implementing majority consensus decisions, as she did on Greece. She is a follower who postures as a leader, which isn't what the EZ needs in a crisis.