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Christine Lagarde, director of the International Monetary Fund, delivers a speech after awarding German chancellor Angela Merkel with a honorary doctorate certificate during the graduation ceremony of the HHL Leipzig Graduate School of Management in Leipzig, Germany, Saturday, Aug. 31, 2019. By awarding the honorary doctorate HHL recognizes the Chancellor's accomplishments in leadership. (AP Photo/Jens Meyer)

Christine Lagarde, director of the International Monetary Fund, delivers a speech after awarding German chancellor Angela Merkel with a honorary doctorate certificate during the graduation ceremony of the HHL Leipzig Graduate School of Management in Leipzig, Germany, Saturday, Aug. 31, 2019. By awarding the honorary doctorate HHL recognizes the Chancellor's accomplishments in leadership. (AP Photo/Jens Meyer)

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