SINGAPORE (July 8): Christine Lagarde, nominated on July 2 to lead the European Central Bank (ECB), will need all her proven attributes, and help from others, to succeed as the new leader of one of the world’s three most systemically important central banks. An inspired choice, she is uniquely well placed to build on her accomplishments as the managing director of the International Monetary Fund (IMF).

In tapping Lagarde for Europe’s most visible economic post, Europe’s political leaders established several precedents:

•             Lagarde stands out in being the first non-economist to hold the post, the first woman and the first combining such deep public-private experience, as well as the combination of national and multinational policymaking;

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