European Council Decision (EU) 2019/1740 of 18 October 2019 appointing the President of the European Central Bank

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The Committee on Economic and Monetary Affairs adopted a report by Roberto GUALTIERI (S&D, IT) on the Council recommendation on the appointment of the President of the European Central Bank (ECB). The committee delivered a favourable opinion on the Council recommendation to appoint Christine Lagarde as President of the European Central Bank for a term of office of eight years, with effect from 1 November 2019. Parliament’s Committee on Economic and Monetary Affairs evaluated the credentials of the candidate, in particular in view of the requirements laid down in Article 283(2) of the Treaty on the Functioning of the European Union and in the light of the need for full independence of the ECB pursuant to Article 130 of that Treaty. In response to questions from Members, Christine Lagarde said that the ECB should clarify its policy and make it more accessible to citizens. She stressed the need for more dialogue with civil society and not only with financial markets. The European Parliament delivered a favourable opinion (394 votes to 206, with 49 abstentions) on the Council's recommendation to appoint Christine Lagarde as President of the European Central Bank for an eight-year term of office, with effect from 1 November 2019. Prior to the vote in plenary, the Committee on Economic and Monetary Affairs evaluated the candidate’s credentials. It then held a two-and-a-half-hour hearing with the candidate on 4 September 2019, during which she made an opening statement and then answered questions from the members of the committee. PURPOSE: appointment of the President of the European Central Bank. NON-LEGISLATIVE ACT: Decision (EU) 2019/1740 of the European Council appointing the President of the European Central Bank. CONTENT: by this Decision, Christine LAGARDE is hereby appointed President of the European Central Bank for a term of office of eight years, as from 1 November 2019.

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