October 24, 2019 3:30 pm

Mario Draghi retires

After eight years, Mario Draghi steps down as President of the European Central Bank. From November, his successor will be Christine Lagarde, who was Executive Director of the International Monetary Fund from 2011 to 2019. The last meeting of the Governing Council of the European Central Bank under the chairmanship of Mario Draghi took place today in Frankfurt. The Italian took over the chairmanship of the ECB in the midst of the euro crisis. Shortly after taking office, he announced in July 2012 that he would do everything in his power to save the euro. Despite adverse circumstances, he succeeded – even if his measures, such as the introduction of a negative interest rate for the banks, the lowering of key interest rates to an all-time low and the large-scale buying of bonds, caused a lot of criticism. BBC

This post was written by Jens Secker

(Image rights: ECB)

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