Christine Lagarde on monetary union
From Mindspeak: Christine Lagarde, Managing Director, IMF - Speech · · Rich Management
“As a French national, as a member of the monetary union of Europe, I have to tell you that it's a very ambitious, exciting project, one where, as Aristotle would put it, you should hasten slowly in order to make sure that all the steps are taken and all the boxes are checked. Don't rush, make sure that you learn from our mistakes and that the East African Monetary Union can actually teach the Europeans how to do it right.”
On , Christine Lagarde, President at European Central Bank, spoke about monetary union during Mindspeak: Christine Lagarde, Managing Director, IMF - Speech on Rich Management.
About Christine Lagarde
Christine Lagarde, President of the European Central Bank, has recently focused on the economic impact of the war in Iran and the resulting energy price shock. In April and May 2026, she stated that the euro area economy had moved away from the ECB’s baseline forecast and was now between its baseline and adverse scenarios, with upside risks to inflation and downside risks to growth having intensified. Following the Governing Council meeting on 30 April 2026, Lagarde announced that the ECB had decided to keep interest rates unchanged, and she emphasized that the bank would follow a data-dependent, meeting-by-meeting approach. She described the current situation as one of “extreme volatility” and “lack of certainty,” and did not rule out the possibility of inflation exceeding 3% by the end of the year or further interest rate hikes. Lagarde also said that fiscal responses to the energy price shock should be “temporary, targeted, and tailored.” In other appearances, Lagarde discussed the economic case for women’s full participation in the workforce, stating that closing gender gaps could boost GDP and that financial literacy for women is important for their independence. Speaking at a conference in Berlin, she argued that “Europe-bashing is vastly excessive” and that Europe has strengths including its 450 million consumers, educational system, and democratic principles. She also said that the ECB’s independence must be earned through accountability, credibility, and transparency. Regarding her own mandate, Lagarde stated that “when there is big clouds on the horizon, the captain does not leave the ship,” indicating her intention to remain in her role.