Europe's finance ministers give Lagarde the green light

Not that this was unexpected as it is mere formality more than anything else, but this just confirms Lagarde's appointment and prevents any potential complications. Now with the Economic and Financial Affairs Council adopting a formal recommendation, her nomination will go to the ECB governing council and European parliament for consultation but neither will be able to block her.


As such, Lagarde will be confirmed in October to succeed Draghi beginning from 1 November.