The nomination of Christine Lagarde to be the next president of the European Central Bank is a breath of fresh air for the stale, male-dominated institution. Incumbent President Mario Draghi may seem like a hard act to follow, but Lagarde has what it takes to succeed. She needs to be bold.
Philippe Legrain, a former economic adviser to the president of the European Commission, is a visiting senior fellow at the London School of Economics’ European Institute and the founder of Open Political Economy Network (OPEN), an international think-tank whose mission is to advance open, liberal societies. His most recent book isEuropean Spring: Why Our Economies and Politics are in a Mess – and How to Put Them Right.