PARIS (MNI) – China has endorsed France’s Finance Minister
Christine Lagarde for the helm of the International Monetary Fund,
joining a growing number of European countries that have already backed
her, French government spokesman Francois Baroin said Tuesday.
Baroin’s announcement is surprising, since Chinese officials have
recently argued that leadership at the Fund should reflect the growing
weight of emerging countries in the global economy. As yet there has
been no official confirmation from Beijing.
In a radio interview, Baroin noted the consensus in Europe that has
emerged in favor of Lagarde to succeed former French finance minister
and presidential hopeful Dominique Strauss-Kahn, who resigned the top
post at the IMF last week after his arrest on charges of sexual violence
against a chambermaid in a New York hotel.
In light of the Eurozone sovereign debt crisis, in which the IMF
has played a major role as a source of financial aid and technical
expertise in mapping out consolidation strategies for Greece, Ireland
and Portugal, “Europe requires our attention,” Baroin said. “We need
Europeans.”
However, since there is “no national pride in this affair,” given
the circumstances of Strauss-Kahn’s resignation, he explained. “France
should not take the lead.”
Lagarde has earned the esteem of political leaders worldwide for
her coordination of the difficult negotiations over financial regulatory
reforms during France’s presidency of the G-20 group this year.
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