Who is Christine Lagarde?

Christine Lagarde is first a political figure of French nationality, known for her many ministerial positions, then managing director of the International Monetary Fund (IMF) and finally the European Central Bank (ECB) the head of the line. She held the last two positions when cryptocurrencies started to make headlines. Since then, they have become indispensable. In this article, we will tell you more about Christine Lagarde and try to understand if she is willing to help the blockchain industry grow.

Christine Lagarde

Career Paths and Education

After earning her bachelor’s degree in 1974, she was awarded a scholarship that allowed her to go to the United States for a year. She got her diploma there and then got an internship at Capitole. After returning to France, she graduated from the Institute of Political Studies in Aix-en-Provence. She failed the ENA’s entrance exam, but will be awarded two master’s degrees (law and English).

She started her legal career at the Paris law firm, where she decided to join the labor law department of the international business firm Baker McKenzie. For two decades, she climbed all levels, eventually becoming president from 1999 to 2005.

From 2005 to 2007, she was appointed Minister of Foreign Trade by Jacques Chirac. Nicolas Sarkozy appointed her minister of agriculture and fisheries for a month, then named her economy minister, where she had to deal with the 2008 financial crisis that gave birth to bitcoin.

President of the International Monetary Fund (IMF)

In 2011, following the Dominique Strauss-Kahn scandal, she was named managing director of the International Monetary Fund (IMF). She subsequently resigned from her position in the French government to take up this prestigious position.

It was during this term that a number of aid packages were proposed to help countries, including Greece, emerge from the 2008 crisis. In return for the reforms, it decided to provide loans to countries struggling to repay their debts to prevent them from going bankrupt.

It was also during this period that Bitcoin and cryptocurrencies in general started to be talked about around the world. Like other international financial institutions, the International Monetary Fund has been opposed to the adoption of cryptocurrencies, claiming that they are useless and a threat to the global economy.

President of the European Central Bank (ECB)

During her second term at the IMF, she decided to step down to become president of the European Central Bank (ECB). Having helped many troubled countries around the world, she thought it would be more useful to help her home continent by putting her skills to work for the people of Europe.

After noticing that cryptocurrencies were slowly starting to emerge as a new asset class, she quickly realized that it would be nearly impossible to stop their rise. She then decided that it was necessary to deal with it within the ECB and proposed the use of blockchain.

The idea of ​​issuing a digital currency from the European Central Bank (CBDC) then caught on. However, things have been delayed due to the Covid-19 crisis. At the time of writing, the drive to issue an ECB-backed euro stablecoin is still under discussion, but its development appears to have slowed.

Conclusion on Christine Lagarde

Christine Lagarde has an exemplary educational and professional background. Every time she takes on something, she achieves brilliant success. She has always been highly appreciated by her colleagues, both in law firms and as ministers.

Now president of the European Central Bank, she is analysing the possibility of issuing a euro-based stablecoin, which would be a first for an institution of this size. Even if Christine Lagarde is not necessarily a big fan of cryptocurrencies, she understands that this new technology has to be dealt with and that blockchain can bring some interesting advantages to the ECB.

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Nicholas Avatar

Nicholas

I discovered the world of cryptocurrencies in January 2018. It was the worst time to invest and since then I have never stopped training and now sharing my knowledge to boost cryptocurrency adoption.

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