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By Dr. Thomas GITZEL, Chief Economist, VP Bank Group
Job poker in the EU ended yesterday with surprises. German Defence Minister Ursula von der Leyen is to become the new President of the EU Commission. And the European Central Bank (ECB) is to be headed by Christine Lagarde, the current head of the International Monetary Fund (IMF). This personnel constellation is subject to confirmation by the EU Parliament from von der Leyen. An approval of the deputies is not yet secured and the Brussels chess game is therefore not over. But what about Christine Lagarde as the future president of the ECB? The current head of the IMF has a wealth of experience. The lawyer knows her way around the international arena. She is familiar with economic and financial policy...
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