Episode Details

The Financial Times reports ECB President Lagarde will leave office before their term ends?allowing a successor to be appointed before next year?s French presidential elections. This makes little difference to near-term policy?the ECB has adopted a stance of masterful inactivity. It might make a difference longer term. Lagarde?s successor could even be an economist (which would obviously be an excellent choice)?and the cumbersome nature of the policy council places extra emphasis on the leadership.