- Lagarde will be the first woman president of ECB
- She believes in blockchain and cryptocurrencies
- Her appointment could usher in a new period for crypto in Europe
The International Monetary Fund (IMF) Director Christine Lagarde has been nominated to the European Central Bank (ECB). This could usher in a great period for cryptocurrencies in the European countries given Lagarde’s positive sentiments on digital currencies.
Stepping Down Temporarily From IMF
Christine Lagarde will become the first woman to be appointed for the position in one of the world’s leading financial institutions. Lagarde replaces Mario Draghi, who is stepping down after holding the position for eight years. The IMF director took to her Twitter account on July 2, 2019, after the news broke and announced that she was stepping down temporarily from IMF.
I am honored to have been nominated for the @ECB Presidency. In light of this, and in consultation with the Ethics Committee of the IMF Executive Board, I have decided to temporarily relinquish my responsibilities as IMF Managing Director during the nomination period.
— Christine Lagarde (@Lagarde) July 2, 2019
Belief in Blockchain Technology and Cryptocurrencies
Lagarde is one of the most respected financial policy experts in the world with her work at the IMF making her a star in her own right. She could be taking up ECB’s reins at a time when Europe is going through many issues beginning from the shutdown in Germany’s economy and the Brexit’s never-ending drama. While her stint at the new job could be a real challenge, her experience in monetary policy at a global level could see her make an appositive impact at one of the world’s most influential central banks.
The renowned banker has not kept her belief in blockchain technology and cryptocurrencies under wraps and has gone as far as telling the world it’s time it got serious about the technology. Reacting to the news, financial markets and cryptoanalyst Alex Kruger tweeted:
“Christine Lagarde has been nominated as a candidate to replace Mario Draghi as head of the ECB. She is a supporter of digital assets and could represent a transformational force within central banking.”
The past few weeks have seen people with a positive crypto outlook taking over the leadership of numerous institutions including attempting to take over at the federal level of the United States. The more power the crypto-friendly lobby gets in the United States and Europe, the better it will be for bitcoin and cryptocurrencies in general. A future in which central banks are going to use blockchain to issue currencies could negate the need for stablecoins. Lagarde once said:
“Here, I want to examine the promise they offer. A judicious look at crypto-assets should lead us to neither crypto-condemnation nor crypto-euphoria.”