New ECB boss Lagarde: "Draghi had his style, I will have my style"

The future head of the European Central Bank (ECB), Christine Lagarde, wants to overcome the deep division in the monetary authority. "I'm always looking for the common ground to bring the different opinions together," said Lagarde DER SPIEGEL. "We should now focus on how we can find a common line again in the future".

An extensive program by its predecessor Mario Draghi on monetary easing had sparked heated controversy in the central bank council last month. Ten out of 25 members had reservations.

In SPIEGEL Lagarde now announces a fundamental review of the ECB's measures, with which it intends to start immediately after taking office. "My goal is to get the members of the Central Bank Council involved at an early stage," she said. "We will examine the benefits and risks of the various options without bias, Mario Draghi had his own style, I will have my style," Lagarde said.

At the same time, the former French Finance Minister called on the governments of the Eurozone to better support the central bank. "Monetary policy has already done a lot in recent years," she said. "Therefore, it must now be complemented by measures of financial and economic policy." Some countries would have to invest more, others to implement structural reforms, and the ECB would have to flank the policy. "We need a stronger combination of these three policies, which could significantly increase the effectiveness of our actions."

Lagarde also wants to broaden the bank's range of topics to include social issues such as climate policy and women's advancement. "It is very important to me to see more women in the financial world and make them heard," she said. At the same time, she promised to improve the communication of the monetary authority. "I consider it one of my urgent tasks to make the euro and the central bank and its monetary policy accessible to a wider public," said the future ECB president. According to SPIEGEL information, Lagarde wants to learn German. She has a teacher engaged and will start teaching on her first day at work.

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