Ms. Christine Lagarde, leaving the post of managing Director of the IMF, was appointed President of the European Central Bank (ECB) with the entry into office on 1 November 2019.The President of France Emmanuel macron, acting in the interests of influential banks played a major role in the nomination of Ms. Lagarde. Praised by the Western media, Lagarde was also supported by wall street and the Federal reserve system of the USA.The media is not mentioned that Lagarde is a corrupt official, member of the financial fraud. And she has a criminal record.In danger if the Euro zone? Financial fraud is being implemented at the highest level of making political and economic decisions. A senior official with criminal records are easy to manipulate. This will inevitably affect how it will manage the ECB, and how it will affect the very structure of monetary policy.The appointment of Lagarde as head of the ECB was not contested or anxiety. EU citizens had not even been informed.She is an obedient tool of the banking and financial establishment, which controls both the IMF and the European Central Bank. While the European Parliament is silent.20 Dec 2016 a French court found the managing Director of the IMF Christine Lagarde has been guilty of “negligence” in connection with the fraud in 2008, many millions of euros. The episode had at that period when she was Finance Minister of France. It is reported that it adopted “the remuneration in the amount of 404 million Euro, translated to businessman Bernard Tapie, [a close friend of President Sarkozy] for the disputed transaction for the sale of some of the company”.”The chief of the International monetary Fund, Christine Lagarde, was convicted for her role in the controversial case of compensation to the businessman € 400 (£ 355M).French judge admitted Ms. Lagarde is guilty of negligence for failing to challenge the payment through the state arbitration friend of former President Nicolas Sarkozy of France [Bernard Tapie].60-year-old lady after a week-long trial in Paris did not impose any sentence and she will be punished.Court of the Republic, a special Tribunal for Ministers could reach a verdict Lagarde in the form of imprisonment for a term of one year and a fine of 13,000 euros. (The Independent, Ms Lagarde up to one-year in prison19 December 2016, emphasis added)Unusually for France? Lagarde was “guilty” without a mandatory incarceration for a period of one year, as in such cases is usually resolved by the court: criminals in high office, granted a special regime. She was accused of “negligence” and not “complicity” in the fraud of many millions of euros.A bitter irony lies in the fact that Lagarde was rewarded, not fined. Despite her criminal record, her career is in no way interfered with: she was appointed to head the IMF (2011-2019 years) and the ECB (2019 and beyond).It is important to note that this “negligence” has cost French taxpayers pay over 400 million euros to Mr. Tapie, other Lagarde and Sarkozy.Although the leadership of Lagarde in IMF (2011-2019 years) was an absolute disaster, the IMF Executive Board confirmed that it retains “full trust” to its leadership. (BBC, 20 December 2016)No question was not asked. Her appointment to head the ECB was confirmed by the European Council in July this year. Despite her conviction, she will begin to fulfill its mandate as the President of the European Central Bank (ECB) on 1 November.Was the indictment and conviction. Despite the fact that “negligence” is a serious understatement on its deeds, her appointment to head the ECB is a disaster for millions of Europeans.Ecuador: model of neo-liberal reforms of the IMF under the leadership of Christine LagardeIn January 2019 IMF managing Director Christine Lagarde met with President of Ecuador Lenin Moreno at the world economic forum in Davos. Two months later, was completed “package” of the deadly economic reforms of the IMF.While the predecessor Moreno , Rafael Correa condemned the IMF and the world Bank as “neo-colonialist vampires that want to suck the sovereignty of small countries,” Lenin Moreno fully embraced the neoliberal agenda of the IMF.In March 2019, an agreement was signed with the IMF in the amount of 4.2 billion dollars of “fictitious credit”, which led to mass poverty through statutory wage cuts, layoffs of teachers and health workers, rampant privatization of social services, through the artificial inflation leading to total collapse of purchasing power.Expanding the role of the IMF in the EU, the IMF has a long history of poverty and the destruction of economies in the framework of its so-called “structural adjustment Programmes” (Structural Adjustment Programme, SAP). The last is to decisive macroeconomic reforms as a condition for debt relief to more than 100 developing countries.Will this model of macroeconomic management, the IMF (which is already applied in several European countries) distributed to all member countries of the European Union?What is the broader significance of the crisis in Ecuador? How does this affect the European Union? What will be the role Lagarde at the ECB?The financial establishment (which supported her nomination as the IMF and the ECB) want to repeat throughout the European Union the application of the “economic medicine” in the style of the IMF imposed on developing countries. No more double standards in favor of the so-called “developed countries”. Brutal economic reforms should apply worldwide.What should we expect? The script is a systematic and provoked by the impoverishment of the European Union by imposing so-called neoliberal reforms already imposed the so-called developing countries.The Eurozone in crisismoreover, the ECB under the leadership of Christine Lagarde will contribute to the dollarization of the Euro, not to mention the fraudulent manipulation of foreign exchange markets, which are also a tool for the impoverishment of millions of people.Eight years ago, may-June 2011. Fraudulent appointment of Lagarde as head of IMFScandal “honey trap” for Dominique Strauss-Kahn (Dominique Strauss Khan, DSK) has played an important role in the introduction Lagarde at the IMF, despite the fact that her role of French Finance Minister in a financial fraud on the 400 million euros already known and documented.In the centre of media attention at the time was the story of the alleged victim, a hotel maid, not about who pulled the strings behind the scenes, that was clearly a false accusation with political overtones.Regime change: Dominique Strauss Kahn (DSK), managing Director of the IMF, was falsely accused, and he was replaced by Christine Lagarde.Against Strauss-Kahn was no solid evidence. Prosecutors it was known at an early stage of the investigation. False charges against Strauss-Kahn was the withdrawal of the charges immediately after the appointment in his place Lagarde as IMF managing Director.The report of the Prosecutor of new York County Cyrus Vance, Jr.in which the accused Strauss-Kahn was charged with all the accusations against them were made public three days after the approval of Lagarde as IMF managing Director.If that information was disclosed a few days earlier, the candidacy of Lagarde to head the IMF, of course, would be questioned. The IMF was carried out regime change.It should be noted that the Prosecutor Cyrus Vance, Jr. (son of former Secretary of state Cyrus Robert Vance) is reportedly a friend of President Nicolas Sarkozy who allegedly played a backstage role in the false prosecution of Strauss-Kahn.Concluding remarksthe European Central Bank as a tool of economic and social development stole the hijackers. Monetary policy de facto privatized. President of the Central Bank is monitored and controlled by financial interests. The European Council was provided with emergency pressure to ratify the appointment of Christine Lagarde.Citizens across Europe must take a firm position. The need for mass mobilization against the appointment of Christine Lagarde.Author: Michelle Chossudovsky — Michel Chossudovsky — Professor of Economics, University of Ottawa (Canada), founder and Director of the Center for the study of globalization (Centre forResearch onGlobalization [CRG], montréal, Canada). Worked as an Advisor to the governments of developing countries and international organizations. Author of 11 books, participated in the drafting of the Encyclopaedia Britannica. In 2014 he was awarded the Gold medal of merit of the Republic of Serbia for coverage of the NATO aggression against Yugoslavia.