Christine Lagarde, managing director of the International Monetary Fund, has resigned. The second piece of the agreement that brought Ursula von der Leyen to the presidency of the EU Commission is therefore starting to take shape. Lagarde's resignation, specified a note from the IMF, will be effective from 12 September. This will allow the economist and banker to take over the leadership of the European Central Bank from November after the end of Mario Draghi's mandate.
With this tweet Lagarde said she was honored to be nominated for the presidency of the ECB and explains that, after hearing from the Ethics Committee of the IMF Executive Board, she decided to temporarily set aside her responsibilities to the IMF during the period of appointment. It was a privilege, she added, to have served the Fund's 189 member countries.
"We want to express our greatest appreciation for all that Lagarde has done for the institution", is the official comment with which the IMF greets the outgoing director. “Her legacy leaves a lasting impression on the Fund. Under her leadership, the Fund has successfully helped its members navigate complex and unprecedented difficulties, including the impact of the 2008 financial crisis and its aftermath. According to the executive board of the Washington institute, her leadership was "exceptional and we are grateful for her visionary and innovative leadership".
