EU Parliament Rubber Stamps Arch-Globalist Lagarde as New Head of Central Bank

Christine Lagarde, President-designate of the European Central Bank (ECB), speaks prior to attending a European Parliament's Committee on Economic Affairs at the EU Parliament in Brussels on September 4, 2019. (Photo by JOHN THYS / AFP) (Photo credit should read JOHN THYS/AFP/Getty Images)
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Christine Lagarde, the globalist lawyer who ran the International Monetary Fund (IMF) until last week has had her appointment to the top of the European Central Bank (ECB) rubber-stamped by the European Union’s powerless Parliament.

Nominated by the European Commission to lead the central bank of the 19 EU nations that share the Euro single currency earlier this year, Lagarde stands to take over the role on November 1st.

The vote Tuesday by the European Parliament is one of the steps towards that confirmation but is no more than a rubber-stamping exercise. Europe’s Parliament, elected and convened to provide the continental power-bloc with a fig-leaf of democracy, can’t actually reject the selection and merely votes to endorse the choice.

As happened in 2012, if the Parliament does vote to reject a candidate the European Council can merely appoint the individual anyway. In the end, the vote was 394 in favour and 206 against, with 49 abstentions.

Lagarde, who was found guilty of criminal negligence in 2016 over her behaviour while French finance minister which the court found allowed misappropriation of government funds, has been a persistent and powerful supporter of globalisation and an opponent of national sovereignty.

In 2016, Lagarde made an intervention in the Brexit debate just days before the British people went to the polls and ultimately delivered the largest democratic mandate in British history to leave the European Union, when she characterised the British as being narrow-minded. In interventions that Brexit campaigners said were deliberate interventions on the democratic process, the IMF which Lagarde led warned voting for Brexit would cause a recession, cost half a million jobs, reduce GDP, and collapse house prices.

The British government, too, predicted dire economic results if the country even voted to leave the European Union in a persistent campaign against independence then known as ‘project fear’. In stark contrast to the claims, the British economy has actually outperformed other leading European economies since the vote.

Lagarde has also been an unfailing ally to the mass migration lobby in her time at the IMF, even going so far to lecture the Spanish government on the importance of opening its borders to migrants to help balance the books. The advice to take millions of migrants was despite Spain already experiencing one-third youth unemployment, and the experience across Europe in the wake of the 2015 migrant crisis being of new arrivals being significantly less productive.

Oliver JJ Lane is the editor of Breitbart London — Follow him on Twitter and Facebook

 

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