The Fox and the ECB
Danièle Nouy, who has just been named the ECB’s first head of banking supervision, faces a difficult task ahead in overseeing some 130 banks that account for 80% of eurozone assets. Though Nouy is knowledgeable and highly capable, the ECB’s decision-making mechanisms are poorly suited to the role of banking supervisor.
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PARIS – A French business magazine recently ranked IMF Managing Director Christine Lagarde the most internationally influential French person alive – well ahead of President François Hollande. While politics may have influenced that particular decision, there is no doubt that Lagarde is at least the most prominent French woman alive.