July 25, 2019 / 9:17 AM / 2 months ago

ECB backs Lagarde's appointment as new president

FILE PHOTO: International Monetary Fund Managing Director Christine Lagarde arrivea for the Women's Forum Americas, at Claustro de Sor Juana University in Mexico City, Mexico, May 30, 2019. REUTERS/Carlos Jasso/File Photo

FRANKFURT (Reuters) - The European Central Bank said on Thursday it had “no objection” to Christine Lagarde becoming its new president, saying she has the experience required for the job.

“The Governing Council has no objection to the proposed candidate, Christine Lagarde, who is a person of recognized standing and professional experience in monetary or banking matters,” the ECB said.

The ECB’s announcement is a formal step toward Lagarde’s appointment by euro zone governments. She would then replace Mario Draghi on Nov. 1.

Reporting by Francesco Canepa; Editing by Alison Williams

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