, Columnist
Lagarde Wants an `Economic Ballet.’ It Could Be a Mosh Pit.
The new ECB president offers a stark contrast to her predecessor. She’ll face many of the same problems.
The owl takes flight.
Photographer: Alex Kraus/Bloomberg
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Christine Lagarde started her first press conference as president of the European Central Bank by warning that she was different from her predecessor, Mario Draghi. It took reporters just a few minutes to realize that she was indeed.
Lagarde is ushering in an era of democratic central banking at the ECB, or so she wants you to believe. But questions remain about whether she’ll stray too far into politics or if she’ll be able to effectively steward a divided and riotous governing council.