European Central Bank (ECB) President Mario Draghi poses with members of the European Parliament's Economic and Monetary Affairs Committee in Brussels, Belgium September 23, 2019. REUTERS/Francois Lenoir
FOR THE past eight years, the European Central Bank has looked very much like a one-man show. President Mario Draghi appeared so dominant that investors quickly learnt to dismiss disagreements as a little nuisance they could easily brush aside.
But with just over a month before "Super Mario” steps down, dissenting voices on the central bank’s top-brass Governing Council are multiplying and becoming ever louder. The question is whether this is just a small break before Christine Lagarde takes over in November, or the start of a new normal, with a more balkanized and self-contradicting central bank.
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