French Finance Minister Lagarde gets Ok from UK and Germany to head IMF...

Discussion in 'Wall St. News' started by ASusilovic, May 22, 2011.

  1. May 22 (Bloomberg) -- The U.K. will back French Finance Minister Christine Lagarde to become the next managing director of the International Monetary Fund, Chancellor of the Exchequer George Osborne said, adding to the cascade of European endorsements for her.

    Osborne praised Lagarde for her leadership skills during France’s presidency of the Group of 20 and for her “strong” advocacy of countries taking steps to reduce budget deficits. Last week, Osborne had left open the possibility that Britain might endorse a non-European to head the fund.

    “On the basis of merit, I believe Christine is the outstanding candidate for the IMF, and that’s why Britain will back her,” Osborne said in an e-mailed statement late yesterday. “Personally think it would be a very good thing to see the first female managing director of the IMF in its 60 year history.”

    Lagarde has emerged as the leading contender to replace Dominique Strauss-Kahn at the IMF as developing nations have failed to unite behind one candidate. Strauss-Kahn, who’s also French, resigned on May 19, four days after his arrest in New York on sexual-assault charges.

    German Chancellor Angela Merkel yesterday described Lagarde as an “excellent and experienced person” and that consensus was emerging is Europe for her to get the IMF job, Deutsche Presse-Agentur said. Austria may support Lagarde, Finance Minister Maria Fekter said yesterday, according to Agence France-Presse.
  2. The good news is hotel maids will be safe.

    The bad news is doormen and bell hops are up next.