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G8 leaders unanimously back Lagarde IMF bid

Despite emerging economies’ objections, the G8 backs the European candidate

Reuters, Sunday 29 May 2011
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Group of Eight leaders unanimously back French Finance Minister Christine Lagarde's bid to become the next head of the International Monetary Fund, Foreign Minister Alain Juppe said on Sunday.

France was careful not to speak out about Lagarde's candidacy during the G8 summit that took place in Deauville on Thursday and Friday.

Juppe said the United States, Russia, Canada, Japan and the European members of the group -- France, the United Kingdom, Italy and Germany -- were firmly in favour of Lagarde.

"Among the eight heads of state and government, plus the president of the European Commission and the president of the European Council who were there, there was unanimous support for Christine Lagarde," Juppe said on Canal+ television.

The top IMF job is vacant after Dominique Strauss-Kahn resigned over attempted rape charges which he has vowed to fight.

Lagarde is due to fly to Brazil later on Sunday as part of a campaign to win support for her candidature from emerging economies which have criticised EU officials for suggesting the new head must be a European.

The only other declared candidate is Mexican Central Bank Governor Agustin Carstens.

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margsview
29-05-2011 06:38pm
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lagarde for IMF
It will be business as usual for the IMF with Lagarde as its leader. The banks and corporations will dictate economic policy of each and every country they "financial give loans to" to the point of being subjects.
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