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Draghi’s Term as ECB President and the Challenges Ahead

16-09-2019

Mario Draghi took over as ECB President at a time of recession for the euro area economy and widespread concerns about whether the euro project could be sustained. The years since have seen an easing of fears of the euro breaking up and the economy recover without triggering inflation above its target level. As such, his presidency must be judged a success. Draghi’s achievements go beyond the successful implementation of monetary policy. He also played a key role in encouraging Banking Union and ...

Mario Draghi took over as ECB President at a time of recession for the euro area economy and widespread concerns about whether the euro project could be sustained. The years since have seen an easing of fears of the euro breaking up and the economy recover without triggering inflation above its target level. As such, his presidency must be judged a success. Draghi’s achievements go beyond the successful implementation of monetary policy. He also played a key role in encouraging Banking Union and other important institutional reforms. The new ECB President faces a difficult set of challenges. The ECB is not meeting its inflation target; inflation expectations are falling; and there are signs of economic weakness. Like Draghi, the next President will require strong communications, diplomatic and political skills to face these challenges successfully.

Autore esterno

Karl Whelan

Appointment of Christine Lagarde as president of the European Central Bank

13-09-2019

During its September 2019 plenary sitting, the European Parliament is expected to vote on a resolution on the candidate (Christine Lagarde) for president of the European Central Bank (ECB). While it is the European Council that appoints the ECB president, it must first consult Parliament. Parliament's Economic and Monetary Affairs Committee (ECON) held a hearing with Christine Lagarde in September 2019 and then voted favourably on the candidacy. The ECB president is a key figure within the Eurosystem ...

During its September 2019 plenary sitting, the European Parliament is expected to vote on a resolution on the candidate (Christine Lagarde) for president of the European Central Bank (ECB). While it is the European Council that appoints the ECB president, it must first consult Parliament. Parliament's Economic and Monetary Affairs Committee (ECON) held a hearing with Christine Lagarde in September 2019 and then voted favourably on the candidacy. The ECB president is a key figure within the Eurosystem when setting monetary policy for the euro area.

European Central Bank appointments: Role of the European Parliament

15-07-2019

The European Parliament plays an important role in the appointment processes of two European Central Bank bodies: the Executive Board and the Supervisory Board (Chair and Vice-Chair). This paper aims to: a) provide an overview of the relevant procedural provisions, b) present a selection of past appointments; and c) describe the evolving role of the European Parliament in those procedures. This document was prepared by Policy Department A for the Economic and Monetary Affairs Committee.

The European Parliament plays an important role in the appointment processes of two European Central Bank bodies: the Executive Board and the Supervisory Board (Chair and Vice-Chair). This paper aims to: a) provide an overview of the relevant procedural provisions, b) present a selection of past appointments; and c) describe the evolving role of the European Parliament in those procedures. This document was prepared by Policy Department A for the Economic and Monetary Affairs Committee.

Outcome of the special European Council meeting of 30 June-2 July

03-07-2019

The special European Council agreed on a package of EU high-level appointments including, the German Defence Minister, Ursula von der Leyen (Germany) as candidate for the office of European Commission President. The Prime Minister of Belgium, Charles MIchel, was elected as incumbent European Council President. Josep Borrell (Spain) was nominated for High Representative of the Union for Foreign Affairs and Security Policy and Christine Lagarde (France) for President of the European Central Bank.

The special European Council agreed on a package of EU high-level appointments including, the German Defence Minister, Ursula von der Leyen (Germany) as candidate for the office of European Commission President. The Prime Minister of Belgium, Charles MIchel, was elected as incumbent European Council President. Josep Borrell (Spain) was nominated for High Representative of the Union for Foreign Affairs and Security Policy and Christine Lagarde (France) for President of the European Central Bank.

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