Lagarde appointed European Central Bank's head

By Diyar Guldogan

ANKARA (AA) - The European Council on Friday appointed Christine Lagarde to be the new and first-ever female president of the European Central Bank (ECB) for a non-renewable term of eight years.

"Christine Lagarde will replace the outgoing President, Mario Draghi, as of 1 November 2019," the Council said in a statement.

"My sincere thanks to European leaders for appointing me as President of the @ecb from 1 November 2019," she said on Twitter on Friday.

"It is an honour to succeed Mario Draghi. I am looking forward to working with the ECB’s talented staff to keep euro area prices stable and banks safe," she added.

Born on Jan. 1, 1956 in Paris, Lagarde holds a law degree from the Paris Nanterre University and a master's degree from the Political Science Institute in Aix en Provence, southern France.

In 2011, Lagarde was elected to become the first-ever female head of the International Monetary Fund (IMF).