Editorial Board
Lagarde Is the Right Choice for the ECB
She’s more than acquainted with the problems Europe’s facing. She’s lived them.
Meet the new boss.
Photographer: Simon Dawson/Bloomberg
If the ability to learn from mistakes is an essential quality in a great leader, then Christine Lagarde has the potential to be an excellent president of the European Central Bank.
When Lagarde was nominated to the post this week, some worried that, as a lawyer by training, she might lack the economic chops to oversee the region’s monetary policy. Such concerns seem overblown. Her support of current ECB chief Mario Draghi’s efforts to preserve the euro and fight off deflation suggest she’s amply capable of responding to the next economic downturn — something that can’t be said of other candidates.