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01 November 201915.15 "We welcome the new president of the ECB Christine Lagarde. We wish you all the best for your 8-year term." Thus the central institute of Frankfurt in the day in which Lagarde takes the helm of the ECB. Christine Lagarde, former general director of the IMF, "takes up her office today," reads a note reminding that "it was appointed by the European Council on 18 October 2019" and "succeeds Mario Draghi who was president of the ECB from November 1st 2011 to October 31st 2019 ".