New ECB boss Lagarde to keep Draghi's top aides: sources

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October 31, 2019 12:01 PM EDT

FILE PHOTO: Christine Lagarde, President-designate of the European Central Bank talks to ECB's outgoing President Mario Draghi in Frankfurt, Germany October 28, 2019. Boris Roessler/Pool via Reuters

FRANKFURT (Reuters) - The European Central Bank's new president, Christine Lagarde, will initially keep her predecessor's top aides, including his personal adviser, two sources close to the matter told Reuters.

The decision signaled continuity between Lagarde and Mario Draghi, whose tenure at the ECB's helm was marked by aggressive policy stimulus that antagonised policymakers from cash-rich euro zone countries such as Germany.

The sources said Roland Straub, a German chosen by Draghi to serve as his counselor and personal aide, would be retained by Lagarde, at least for now.

No change was expected in any key position from monetary policy to communication, the sources added.

Straub and an ECB spokesman declined to comment.

Lagarde, who assumes her role on Nov 1, has already echoed her predecessor by scalding Germany and the Netherlands for not investing their budget surpluses to support growth.

(Reporting By Balazs Koranyi; Writing by Francesco Canepa; Editing by Kirsten Donovan)


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