{"id":150818,"date":"2019-07-03T10:00:40","date_gmt":"2019-07-03T14:00:40","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=150818"},"modified":"2019-07-03T05:41:45","modified_gmt":"2019-07-03T09:41:45","slug":"christine-lagardes-ecb-appointment-would-benefit-markets-devere-ceo","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/07\/christine-lagardes-ecb-appointment-would-benefit-markets-devere-ceo\/","title":{"rendered":"Christine Lagarde\u2019s ECB appointment would benefit markets: deVere CEO"},"content":{"rendered":"
July 3, 2019<\/div>
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By George Prior<\/strong><\/em><\/p>\n

Christine Lagarde will be a good choice for financial markets as the President of the European Central Bank, affirms the CEO of one of the world\u2019s largest independent financial advisory organizations.<\/p>\n

The assessment from the boss of deVere Group, which has $12bn under advisement, comes as Ms Lagarde, 63, who is currently Head of the International Monetary Fund (IMF) is nominated \u2013 and likely – to succeed Mario Draghi as president of the ECB when his eight-year term comes to an end in October.<\/p>\n

The heads of EU member states last night confirmed their preferred candidates for a raft of top jobs, including the ECB, setting the potential future direction of the bloc for the next five years.<\/p>\n

Mr Green comments: \u201cThe nomination of Christine Lagarde is both surprising and controversial.<\/p>\n

\u201cIt is surprising because she herself has previously appeared to rule herself out from the job. Also, because she is not an economist, she\u2019s a political figure with no direct experience of central banking.<\/p>

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\u201cIt\u2019s controversial due to her \u2018baggage.\u2019\u00a0 Under her leadership the IMF\u2019s conduct \u201craised issues of accountability and transparency,\u201d according to a report. She was also found guilty of negligence by a French court over her handling of a case during her time as the French finance minister.\u201d<\/p>\n

He continues: \u201cHowever, despite some\u00a0scepticism, I believe Christine Lagarde\u2019s appointment would be well-received by financial markets.<\/p>\n

\u201cShe is a known quantity. She is broadly considered a safe and competent pair of hands. She represents certainty. All\u00a0this benefits markets.\u201d<\/p>\n

He goes on to add: \u201cCriticism is being directed at her because her remit is to try and assimilate different fiscal policies with a single monetary one and she is not known as a leading economist, but more as a political figurehead.<\/p>\n

But with many of Europe\u2019s most pressing economic issues stemming from the political sphere, her political savvy could be an important advantage.\u201d<\/p>\n

The deVere CEO concludes: \u201cMs Lagarde can be expected to share Draghi\u2019s liking for aggressive and innovative monetary policy. She is likely to insist on Quantitative Easing should inflation remain sluggish.<\/p>\n

\u201cMarkets will appreciate this, especially as global economic growth appears to be slowing.\u201d<\/p>\n

About:<\/em><\/strong><\/p>\n

deVere Group is one of the world\u2019s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.\u00a0 It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.<\/p>\n

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By George Prior Christine Lagarde will be a good choice for financial markets as the President of the European Central Bank, affirms the CEO of one of the world\u2019s largest independent financial advisory organizations. The assessment from the boss of deVere Group, which has $12bn under advisement, comes as Ms Lagarde, 63, who is currently […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-150818","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/150818","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=150818"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/150818\/revisions"}],"predecessor-version":[{"id":150819,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/150818\/revisions\/150819"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=150818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=150818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=150818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}