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As Lagarde prepares to take over the helm, troubles brew at the ECB; how will euro be affected?
It will be a significant day in the history of the Eurozone on October 31 when Mario Draghi – widely viewed as the man who saved the euro – will step down as President of the European Central Bank. He will be replaced by former IMF Managing Director Christine Lagarde, making her not only the first woman to head the ECB but also the first time that the Bank will be led by someone who is a former lawyer and politician rather than a trained economist. However, her arguable credentials might be the least of her problems as a rift is widening within the Governing Council about the appropriate path of monetary policy. ... (full story)