EU leaders nominate Lagarde for ECB President

Nice ... a convicted criminal, not only at IMF, now also for the ECB ... (The Independant, 19.12.2016) "Christine Lagarde convicted: IMF head found guilty of criminal charges over massive government payout. But former French finance minister, who faced potentially one year in jail, will not face any punishment."

EventsTrader

Jul 3, 2019 7:58pm

Quoting blackjacker

Disliked

RIP eurozone, she is politician and thats very bad for a central bank, if they elect her ECB is going to lose authority because of the risk of populist decisions being made. You can say many things about Supermario but he is legend, this Lagarde is going to destroy ECB.

Ignored

I'm no expert on Europe's politics or Europe in general. But I can tell you that after catching the tail end of Duisenberg, then following Trichet and Draghi for over 15 years, nothing the ECB does surprises me anymore.

I agree 100% with you about Draghi. Remember under Trichet, the ECB raised rates up until July 2008. For perspective, the Fed cut rates aggressively by 325 basis points from Aug 2007 to July 2008, before the ECB finally started easing. Draghi has been the only ECB chief that's going to be a tough act to follow.

I'm no expert on the matter, I've just kept up with it enough to know I hadn't heard Lagarde's name in the mix. Market's are expecting Lagarde to be dovish. It'll be interesting how she juggles keeping prices stable throughout the euro zone while supporting economic growth and job creation. Perhaps what the ECB needed was a politician.

Attached Image

Jul 3, 2019 3:13am

Quoting Hurst

Disliked

we are screwed this women is evil https://www.armstrongeconomics.com/u...nt-redemption/ https://engineeringevil.com/tag/christine-lagarde/ she is a criminal has been convicted by a court of law

Ignored

Suspected, not convicted. No matter how bitchy she may be, if you read the case, it's nothing but a political intrigue stirred up by former socialist president Hollande, the fat jerk who spent the first two years of his mandate hunting wiches instead of fixing France's economy. (That said, her nomination at the head of the ECB makes me barf)

Jul 3, 2019 3:18am

Quoting blackjacker

Disliked

RIP eurozone, she is politician and thats very bad for a central bank, if they elect her ECB is going to lose authority because of the risk of populist decisions being made. You can say many things about Supermario but he is legend, this Lagarde is going to destroy ECB.

Ignored

Strange logic.

Jul 3, 2019 8:18am

Quoting robgsxr

Disliked

{quote} At some stage she was convicted not suspected https://www.independent.co.uk/news/w...-a7484586.html 19 December 2016 15:15 Christine Lagarde convicted: IMF head found guilty of criminal charges over massive government payout Monetary Fund chief Christine Lagarde has been convicted over her role in a controversial €400m (£355m) payment to a businessman. French judges found Ms Lagarde guilty of negligence !

Ignored

Is being "negligent" equal to being a "criminal"? That's my questionning. It's just the way people play with words. Read the entire case and tell me who are the criminals. That case is purely political.

Jul 3, 2019 8:25am

Quoting blackjacker

Disliked

{quote} There is nothing strange, mate, it is strange you don't get it. Central Bank leaders shouldn't be politicians by heart.

Ignored

It's not that part it's the "she is going to destroy the ECB," unlike "supermario" the super-GS-boy!

Jul 4, 2019 4:24pm

Quoting robgsxr

Disliked

{quote} In the court of law she was proven guilty and it states could have been given a fine plus the extra sentence of 1 year in prison for this crime. She was however let off without punishment ??? (Headline: IMF head found guilty of criminal charges) I don't see where there is any opportunity within these statements to offer an opinion. The facts in the case were established, the case was concluded and sentence was passed. Unless an appeal court has overturned the conviction (of guilty) at some later date then the judgement stands and now she...

Ignored

suggest you read the entire case from when it started. It's quite entertaining, not to mention the judges who kept going back and forth.

Lagarde did nothing wrong or against the law. She just accepted that the case be judged by an arbitrage tribunal, which was perfectly legal. That court condemned the bank to pay something like less than 300 million euros plus accrued interests = roughly 400 million. When the next socialist government took office, they appealed and went to another court who reverted the judgment. Lagarde’s decision was made to cut short the long and expensive procedures. That’s the "negligence" held against her. Probably so to please the socialist government of Holland, obsessed with witch hunting. But again, read the case (it can't be summarized in a few lines). My opinion (though I’m not 100% sure) is that the bank screwed Tapie (previous owner of Addidas) in the first place. But since the government was responsible for the bank’s debts, they wanted to avoid paying for what the bank did in the first place.
Does that make Lagarde a “criminal” at par with murderers and the like? Criminal is not a neutral term.

Jul 2, 2019 5:57pm

RIP eurozone, she is politician and thats very bad for a central bank, if they elect her ECB is going to lose authority because of the risk of populist decisions being made. You can say many things about Supermario but he is legend, this Lagarde is going to destroy ECB.

Jul 3, 2019 8:45am

Quoting Nobody-yet

Disliked

{quote} It's not that part it's the "she is going to destroy the ECB," unlike "supermario" the super-GS-boy!

Ignored

I dont find it useful to explain in depth but bear in mind she is a weak link, she is a political compromise, and that is not practical. Should be someone who has already been in the bank not someone who has been everywhere else.

Jul 3, 2019 11:40am

Quoting robgsxr

Disliked

{quote} In the court of law she was proven guilty and it states could have been given a fine plus the extra sentence of 1 year in prison for this crime. She was however let off without punishment ??? (Headline: IMF head found guilty of criminal charges) I don't see where there is any opportunity within these statements to offer an opinion. The facts in the case were established, the case was concluded and sentence was passed. Unless an appeal court has overturned the conviction (of guilty) at some later date then the judgement stands and now she...

Ignored

Somewhat a strange scenario and I think there was a ratio, one for Germany, one for France as the two biggest in the union, the other jobs selected were of less importance. Which is very bad, ECB needs some sort of stability and predictability, but instead a post was "given" based on non-productive distribution. If she gets confirmed that is a very bad decision for EU and ECB.

XuMar

Jul 2, 2019 1:20pm

This superwomen would give expansive monetary

robgsxr

Jul 3, 2019 6:08am

Quoting Nobody-yet

Disliked

{quote} Suspected, not convicted. No matter how bitchy she may be, if you read the case, it's nothing but a political intrigue stirred up by former socialist president Hollande, the fat jerk who spent the first two years of his mandate hunting wiches instead of fixing France's economy. (That said, her nomination at the head of the ECB makes me barf)

Ignored

At some stage she was convicted not suspected

https://www.independent.co.uk/news/w...-a7484586.html

19 December 2016 15:15
Christine Lagarde convicted: IMF head found guilty of criminal charges over massive government payout Monetary Fund chief Christine Lagarde has been convicted over her role in a controversial €400m (£355m) payment to a businessman.
French judges found Ms Lagarde guilty of negligence !

robgsxr

Jul 3, 2019 10:06am — Edited

Quoting Nobody-yet

Disliked

{quote} Is being "negligent" equal to being a "criminal"? That's my questionning. It's just the way people play with words. Read the entire case and tell me who are the criminals. That case is purely political.

Ignored

In the court of law she was proven guilty and it states could have been given a fine plus the extra sentence of 1 year in prison for this crime. She was however let off without punishment ???

(Headline: IMF head found guilty of criminal charges)

I don't see where there is any opportunity within these statements to offer an opinion. The facts in the case were established, the case was concluded and sentence was passed. Unless an appeal court has overturned the conviction (of guilty) at some later date then the judgement stands and now she heads the ECB.

If the charge was purely seen as being negligent it would still be a worry that someone (Lagarde) who allows a €404m payment to be made, that Civil courts later intervened to stop her approval of the unusually generous award and declared Lagarde's recommended arbitration process and subsequent deal fraudulent.

It all seems a strange scenario to allow someone with even the slightest chink in their armour to Preside over the ECB. There have to be many candidates who have never committed even the slightest indiscretion as capable as her.

Hurst

Jul 2, 2019 4:30pm

we are screwed this women is evil

https://www.armstrongeconomics.com/u...nt-redemption/

https://engineeringevil.com/tag/christine-lagarde/

she is a criminal has been convicted by a court of law

ChiForex

Jul 2, 2019 1:39pm

Lagarde🤣🤣🤣🤣🤣😂😂😂😂😅😅😅😅😅

Sparrow

Jul 2, 2019 12:22pm

Ravens fight for power and money

RossEdwards

Jul 2, 2019 12:29pm

classic ..outsider compromise play.. this is getting interesting..

Jul 2, 2019 1:19pm

hancur!

Jul 2, 2019 12:43pm

Every news negative result for Eur/Usd Gap/Usd

Jul 3, 2019 6:59am

Quoting Nobody-yet

Disliked

{quote} Strange logic.

Ignored

There is nothing strange, mate, it is strange you don't get it. Central Bank leaders shouldn't be politicians by heart.

Ojiego

Jul 2, 2019 12:12pm

Boy O Boy!! ..... they keep rotating them

@work

ultra99

Jul 3, 2019 1:06am