**Summary:**
European Council Decision (EU) 2019/1740, adopted on October 18, 2019, appoints Ms. Christine Lagarde as President of the European Central Bank (ECB) for a non-renewable term of eight years, commencing on November 1, 2019. This decision follows the expiration of Mr. Mario Draghi's term on October 31, 2019, and is based on Article 283(2) of the Treaty on the Functioning of the European Union. The decision was made considering the recommendation of the Council of the European Union, the opinion of the European Parliament (delivered on September 17, 2019), and the opinion of the Governing Council of the European Central Bank. The European Council determined that Ms. Lagarde meets all the requirements outlined in Article 283(2) of the Treaty. The Decision was published in the Official Journal of the European Union and entered into force on October 18, 2019. The decision was done at Brussels and signed by The President of the European Council, D. Tusk.
Key Entities Referenced
European Council: The institution of the European Union that defines the general political direction and priorities.
European Central Bank: The central bank of the Eurozone, responsible for the monetary policy of the euro area.
Treaty on the Functioning of the European Union: One of the primary treaties of the European Union, outlining the organization and operation of the EU.
Council of the European Union: A component of the EU's legislative branch in which ministers from each member state meet to adopt laws and coordinate policies.
European Parliament: The parliamentary body of the European Union that shares legislative and budgetary power with the Council of the European Union.
Mario Draghi: Former President of the European Central Bank.
Christine Lagarde: The appointed President of the European Central Bank as of November 1, 2019.
Brussels: The city in Belgium where the European Council Decision was made.
21.10.2019 E N O f f i c i a l J o u r n a l o f t h e E u r o p e a n Union L 267/1
II
(Non-legislative acts)
DECISIONS
EUROPEAN COUNCIL DECISION (EU) 2019/1740
of 18 October 2019
appointing the President of the European Central Bank
THE EUROPEAN COUNCIL,
Having regard to the Treaty on the Functioning of the European Union, and in particular Article 283(2) thereof,
Having regard to the recommendation of the Council of the European Union (1),
Having regard to the opinion of the European Parliament (2),
Having regard to the opinion of the Governing Council of the European Central Bank (3),
Whereas:
(1) The term of office of the President of the European Central Bank, Mr Mario DRAGHI, appointed by European
Council Decision 2011/386/EU (4), expires on 31 October 2019 and it is therefore necessary to appoint a new
President of the European Central Bank.
(2) The European Council wishes to appoint Ms Christine LAGARDE who, in its view, meets all the requirements set out
in Article 283(2) of the Treaty,
HAS ADOPTED THIS DECISION:
Article 1
Ms Christine LAGARDE is hereby appointed President of the European Central Bank for a term of office of eight years as
from 1 November 2019.
Article 2
This Decision shall be published in the Official Journal of the European Union.
(1) OJ C 235, 12.7.2019, p. 1.
(2) Opinion delivered on 17 September 2019 (not yet published in the Official Journal).
(3) OJ C 258, 1.8.2019, p. 2.
(4) European Council Decision 2011/386/EU of 24 June 2011 appointing the President of the European Central Bank (OJ L 173,
1.7.2011, p. 8).L 267/2 E N O f f i c i a l J o u r n a l o f t h e E u r o p e an Union 21.10.2019
Article 3
This Decision shall enter into force on the date of its adoption.
Done at Brussels, 18 October 2019.
For the European Council
The President
D. TUSK