CCTV Transcripts

CCTV Script 17/07/19


— This is the script of CNBC's news report for China's CCTV on July 17, 2019, Wednesday.

Glass ceiling has been seen as a stumbling block for a long time for females to take a top leadership position. But, now, there are 2 females challenge this difficulty with practical action. The evening of 16th local time, EU commission confirmed that Ursula von der Leyen, ex-Federal Minister of Defence of Germany, will take over Junker as next President of the European Commission.

She is also the first female president since EU Commission established in 1958.

At the same say, 63 year old Lagarde, President of IMF, also submit her resignation, preparing for her new position that is President of ECB.

She would be the first female president of ECB if the appointment gets approved. Lagarde's election is almost assured, and her resignation also double-confirm that.

2 60-year-old females fills the EU's top jobs, so that is an exciting news to all females and a new atmosphere to these 2 major EU institutions. Ursula and Lagarde will take step on Nov 1, if there is no accident, however, they both facing challenges on their new position.

Lagarde was a lawyer before she took finance, many questioned that she has no central bank working experience and no knowledge of monetary policy. In the vote held on 16th, Ursula just win by a narrow margin, she received 383 votes out of 737, only 9 votes margin, which is the least support for the President of EU Commission since 2008. Now, EU Commission has become more divided from the direct election in 1979. The vote result shows that Ursula and EU Commission will face serious challenges when they try to pass legislation. Under this complex international situation and economy environment, their policy communication skills and flexibility will be sorely tested.

When it comes to future policy, they will all follow their predecessors' policies in general, and are not expected to change much.

ECB will still going with its loose policy, Ursula's policy ideas will keep consistent with Junker's, just focus more on environment protection and gender problems.

Currently, more uncertainties fall on who will take over them after they resign from current position. Financial market put close eyes on who will be the next president of IMF. Two big cliffhangers are also drawing attention in Berlin's political circles when Ursula quit Minister of Defence of Germany: first, will the cabinet re-shuffle? Second, who will take this position? These 2 problems are still without answers.