Lagarde makes her mark on ECB as she introduces subtle changes

The European Central Bank president has promised to listen more to policymakers but expects discipline in return, writes Balazs Koranyi, Francesco Canepa, and Frank Siebelt.

Gathered in a German mountain castle last November for an evening retreat that ended with a whiskey-tasting, rebel European Central Bank policymakers and Christine Lagarde, their newly confirmed president, made a pact.