Possible candidate to run World Economic Forum departs ECB nine months early, saying she wants to speak her mind about world affairs

Christine Lagarde, the eurozone’s top central banker, has said she is stepping down nine months early to speak her mind about world affairs and confront the “misrepresentation of the truth”.

Ending months of speculation about her future at the European Central Bank, Lagarde said she would quit her role as president in March rather than October next year because the rules of neutrality that governed her job prevented her from influencing debate about financial and economics affairs.

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© Photograph: Athit Perawongmetha/Reuters

© Photograph: Athit Perawongmetha/Reuters

© Photograph: Athit Perawongmetha/Reuters

Possible candidate to run World Economic Forum departs ECB nine months early, saying she wants to speak her mind about world affairs

Christine Lagarde, the eurozone’s top central banker, has said she is stepping down nine months early to speak her mind about world affairs and confront the “misrepresentation of the truth”.

Ending months of speculation about her future at the European Central Bank, Lagarde said she would quit her role as president in March rather than October next year because the rules of neutrality that governed her job prevented her from influencing debate about financial and economics affairs.

Continue reading...

© Photograph: Athit Perawongmetha/Reuters

© Photograph: Athit Perawongmetha/Reuters

© Photograph: Athit Perawongmetha/Reuters

Her plan to depart in February, months before the end of an eight-year term, sets in motion a selection process among European leaders for a new central bank president.

© Heiko Becker/Reuters

If ever enacted, proposals by Marine Le Pen and the AfD leader, Alice Weidel, to hollow out EU institutions would be a continental act of self-harm

Following the Brexit referendum in 2016, Marine Le Pen was in a predictably celebratory mood. Britain’s vote to leave the European Union, she told one interviewer, was the first breach in the “Brussels Wall”. Ms Le Pen’s Front National party was at that point committed to taking France down the same path, given the chance. But as the UK’s self-inflicted economic wounds became a cautionary tale for the rest of Europe, the notion of Frexit was put on ice.

Instead, Ms Le Pen now hopes to lead far-right allies in hollowing out the EU from within. This month, both she and the leader of Alternative für Deutschland, Alice Weidel, outlined their visions of a “Europe of nations” in which EU institutions would be stripped of both cash and power. Ms Weidel’s “new deal for Europe” would abolish elections to the European parliament, and seek German opt-outs in areas such as migration, defence and common borrowing. Ms Le Pen’s party, now called National Rally, proposes slashing French contributions to the EU budget by 60% over a five-year presidential term, and ending the role of Brussels in proposing common policies for the 27 member states.

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© Photograph: Christophe Petit-Tesson/EPA

© Photograph: Christophe Petit-Tesson/EPA

© Photograph: Christophe Petit-Tesson/EPA