Christine Lagarde says she intends to channel the wisdom of an owl in her new role as European Central Bank president.
States with a currency of their own can never run out of money. That's a core thesis of the Modern Monetary Theory which spilled over to Europe from the US. German economist Dirk Ehnts elaborates on what it's all about.
The European Central Bank's first female president inherits an almost empty toolbox from her predecessor — at a time when persistently low inflation and weak growth are showing the limits of monetary policy.
The European Central Bank's new president has urged European countries to invest and innovate as concerns of an economic slowdown intensify. She warned that export growth could no longer be relied upon to boost growth.
IMF Managing Director Christine Lagarde will become the European Central Bank's next president in November. If she replaces Italy's Mario Draghi, a huge change in the eurozone lender's policy seems unlikely.
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