Lagarde to Succeed Draghi as ECB Chief as Economy Weakens (2)

Christine Lagarde is set to swap the helm of the International Monetary Fund for that of the European Central Bank, becoming the first woman to run euro-area monetary policy just as the bloc’s economy looks in need of fresh stimulus.

Lagarde was nominated to succeed Mario Draghi as president of the ECB when his eight-year term ends on Oct. 31. European governments turned to the 63-year old onetime lawyer and former French finance minister July 2 after hours of negotiations in Brussels over a package of top EU jobs.

In a statement, Lagarde said that she was “honored to have ...