Zero Hedge: In her much anticipated first appearance as president of the ECB before at the European Parliament, Christine Lagarde asked EU lawmakers on Monday to give her time to “learn the ropes” of her new job and to reshape the ECB’s monetary policy in what is likely to be a lengthy policy review, and said the ECB will be “resolute” in restoring euro-zone price stability, while stressing that an upcoming strategy review will be wide-ranging, including climate change as well as inflation.
“The ECB’s accommodative policy stance has been a key driver of domestic demand during the recovery, and that stance remains in place,” she said ahead of her first monetary policy meeting at the ECB on Dec. 12.
Similar to the Fed, the former convicted criminal and IMF chief who left Argentina near bankruptcy, has promised an overarching review of ECB business ranging from how it defines its inflation objective to whether it includes a fight against climate change among its responsibilities. Read More …
Opinion: Ok, class, who can tell me of what crime was Christine Lagarde, head of the world’s second largest central bank, convicted in 2016?
Christine Lagarde convicted: IMF head found guilty of criminal charges over massive government payout
“French judges found Ms Lagarde guilty of negligence for failing to challenge the state arbitration payout to the friend of former French President Nicolas Sarkozy. The 60-year-old, following a week-long trial in Paris, was not given any sentence and will not be punished.” read more
Pretty darn hard to send a liberal to jail these days, but a promotion? Really?
Not to worry, since the European Central Bank oversees 27 countries that are broke or going that way, Mrs. Lagarde says she is working on a plan to save the continent.
So what is the plan? QE (money printing) and more QE, and when that is finished, more QE – but called something else. Theft perhaps.