News analysis

Outgoing European Central Bank chief cements legacy of easy money

European Central Bank (ECB) president Mario Draghi with then International Monetary Fund managing director Christine Lagarde, in a May 2017 file photo. Ms Lagarde, who is succeeding Mr Draghi as ECB president, is preset to continue the policy of her
European Central Bank (ECB) president Mario Draghi with then International Monetary Fund managing director Christine Lagarde, in a May 2017 file photo. Ms Lagarde, who is succeeding Mr Draghi as ECB president, is preset to continue the policy of her predecessor, says the writer. PHOTO: AGENCE FRANCE-PRESSE
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If Mr Mario Draghi wanted to leave his mark on the history of the European Central Bank (ECB) as the president who never let down the economies of the euro zone, he did the right thing this week.

His decision to craft a new package of stimulus measures, however, is creating a heavy burden for his successor Christine Lagarde.

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A version of this article appeared in the print edition of The Straits Times on September 14, 2019, with the headline Outgoing European Central Bank chief cements legacy of easy money. Subscribe