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When Mario Draghi's tenure was approaching its end, I argued for a sterner governor for the European Central Bank (ECB); hence, I was not even slightly enthusiastic when Draghi's successor turned out to be Christine Lagarde - a patent dove, as can be inferred from her ideological proximity to a famous Keynesian like Olivier Blanchard.
However, I am here to defend the stance she took with her March 12 speech - in which, addressing the economic turmoil spurred by the coronavirus crisis, she declared that it was not a central banker's job