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No phones, no leaks: Lagarde's stamp on ECB

Video Credit: Reuters Studio - Duration: 01:54s - Published < > Embed
No phones, no leaks: Lagarde's stamp on ECB

No phones, no leaks: Lagarde's stamp on ECB

ECB insiders say new chief Christine Lagarde has a deal for bank policymakers: Cut out the open dissent and I'll listen to you more.

Julian Satterthwaite reports.

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No phones, no leaks: Lagarde's stamp on ECB

Christine Lagarde is putting her stamp on the ECB.

That's according to bank insiders contacted by Reuters.

They say she's demanded an end to leaks and public dissent by members of the body's governing council.

In return Lagarde has promised to listen more, and not make decisions before she's heard all views.

(SOUNDBITE) (English) ECB PRESIDENT, CHRISTINE LAGARDE, SAYING: "The Governing Council stands ready to adjust all of its instruments as appropriate." The pact was agreed at a German mountain castle.

Policymakers gathered at Schlosshotel Kronberg, west of Frankfurt, to thrash out some new ideas.

Insiders say the result is a big change from predecessor Mario Draghi.

Critics claim he could be a remote figure who didn't seek consensus.

Some say he looked at his phone while policymakers spoke in meetings.

Perhaps as a result, his September package of stimulus measures for the euro zone sparked open dissent.

(SOUNDBITE) (English) EUROPEAN CENTRAL BANK PRESIDENT MARIO DRAGHI, SAYING: "We expect them to run for as long as necessary." The new way may be working.

No details have leaked regarding a sweeping review of bank policy promised by Lagarde.

But her style may also be born of necessity.

With no previous central bank experience, Lagarde needs to lean more on policymakers.

Reuters sources say it may also help to win over ECB critics, such as Germany.

Work at the ECB now and you may end up chatting to the boss in the elevator.

But don't mistake Lagarde for any kind of soft touch - especially on timekeeping or getting to the point.

Turn up late, or waffle, and insiders say you'll be swiftly shut down.



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No phones, no leaks: Lagarde's stamp on ECB [Video]No phones, no leaks: Lagarde's stamp on ECB

ECB insiders say new chief Christine Lagarde has a deal for bank policymakers: Cut out the open dissent and I&apos;ll listen to you more. Julian Satterthwaite reports.

Credit: Rumble     Duration: 01:55Published

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