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Women Grab Top Posts at EU

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GERMANY-MUNICH-MSC-OPENING by .
Ursula von der Leyen

Germany’s Ursula von der Leyen, and France’s  Christine Lagarde get new posts at new EU administration…. Reports Asian Lite News

GERMANY-MUNICH-MSC-OPENING by .
Ursula von der Leyen

The EU leaders have agreed on the future leadership of the bloc’s institutions, proposing German Defence Minister Ursula von der Leyen to be the next European Commission President. Charles Michel, the Prime Minister of Belgium, is elected to be the next President of the European Council. Christine Lagarde, Managing Director of the International Monetary Fund, is nominated to be President of the European Central Bank. Josep Borrell Fontelles, the Foreign Minister of Spain, is nominated to be the EU’s foreign policy chief.

Except Michel, other candidates would have to go through formalities to get on the job. Von der Leyen, who would be the first female European Commission President, is facing some resistance in the European Parliament which must vote to confirm her nomination, with several lawmakers saying earlier that she was unacceptable.

However, according to German Chancellor Angela Merkel, von der Leyen faced no opposition in the European Council, made up by leaders of the EU’s 28 member states.

SWITZERLAND-DAVOS-IMF-WORLD ECONOMIC OUTLOOK-LOWER GROWTH FORECAST by .
Christine Lagarde

“After all, Europe is a woman,” said Donald Tusk, current President of the European Council who chairs the leaders’ meeting.

Ms Lagarde said that she is honored to have been nominated for the presidency of the ECB, and has decided to temporarily step down from the IMF leadership during the nomination period.

“I am honoured to have been nominated for the Presidency of the European Central Bank,” Xinhua news agency quoted Lagarde as saying.

“In light of this, and in consultation with the Ethics Committee of the IMF Executive Board, I have decided to temporarily relinquish my responsibilities as Managing Director of the IMF during the nomination period,” she added.

Lagarde, a French national, would be the first woman to lead the ECB. She is set to replace Mario Draghi, whose eight-year term ends on October 31.

“Christine Lagarde will, with her international background and standing as current Managing Director of the International Monetary Fund, be a perfect President of the European Central Bank,” added Tusk.

On July 5, 2011, Lagarde became the 11th managing director of the IMF, and the first woman to hold that position. She was elected to a second five-year term as the IMF managing director, which started on July 5, 2016. Prior to joining the IMF, Lagarde served as France’s finance minister from 2007 to 2011.

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