World, Economy, Europe

Lagarde takes over duties as European Central Bank head

First-ever female head appointed by European Council on Oct. 18 for term of office of 8 years

Lagarde takes over duties as European Central Bank head European Central Bank (ECB) president Christine Lagarde


Christine Lagarde on Friday assumed her duties as the first-ever female president of the European Central Bank (ECB).

"She was appointed by the European Council on 18 October 2019 for a term of office of eight years," the ECB said in a statement.

Lagarde succeeded Mario Draghi, who was president of the ECB from 2011 to 2019.

Lagarde, 63, holds a law degree from the Paris Nanterre University and a master's degree from the Political Science Institute in Aix en Provence, southern France.

In 2011, Lagarde was elected to become the first-ever female head of the International Monetary Fund (IMF).

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