The Trader 

A testing time for Europe's banks

The Trader

I’ve a few charts up my sleeve this week which I’m sure Christine Lagarde (b1956), ex-head of the IMF and soon-to-be top dog at the European Central Bank (ECB), hasn’t seen. One, described by a social media pundit as "the worst chart in the world", is the Euro STOXX Banks index (SX7E). Had she seen it, I doubt she would have agreed with such alacrity and unseemly haste to accept the job as president of the ECB when Mario Draghi’s term ends. A career lawyer, she joined the French government through the back door in 2004, was promoted to economy and finance minister in 2007, and swept through the revolving door into the IMF in 2011 when disgraced Dominique Strauss-Kahn resigned.

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