Christine Lagarde Was Endorsed by EU Leaders as the Next ECB President

Christine Lagarde was endorsed by EU leaders as the next President of the European Central Bank (ECB).

The European Council endorsed Christine Lagarde as President of the ECB. She will replace the now former ECB President Mario Draghi from 1 November. 

Earlier, her candidacy was endorsed by The European Parliament and the Council of the EU.

The European Central Bank was established in 1998 in order to guarantee the financial stability and coordination of the monetary policy of the euro area countries.