Gucci Tasker online Nike Free Run Offer Angela Merkel support

by haki9a900 on 2012-03-07 11:50:30

Uncategorized

Angela Merkel Supports a European for the IMF Job. But Which European Could She Have in Mind? By Catherine Mayer | @catherine_mayer | May 19, 2011 | + Tweet

This morning Angela Merkel made it clear that she wishes to see a European replace Dominique Strauss-Kahn at the helm of the IMF. "It is of course of great importance that we find a quick solution," she said, adding that the German Chancellor carefully avoided any hints as to which of the various Europeans rumored to be in the running for the IMF candidacy could receive her backing.

Despite rumors about the ambitions of former British Prime Minister Gordon Brown, another European front-runner is Christine Lagarde. The only black mark against France's first female finance minister is this: she is French, like Strauss-Kahn. If the job is filled according to the principle of what the British call "bugging turn," it is not based on merit but placement in the queue, then a French candidate is ruled out. But if competence and popularity are taken into account, Lagarde appears to be in a strong position.

A quick glance back at the last few years of TIME's annual list of the world's most influential people, the TIME 100, supports this viewpoint. Here is a tribute to Lagarde from 2009 written by U.S. Treasury Secretary Timothy Geithner. In 2010, she was profiled for the TIME 100 by Klaus Schwab, founder and CEO of the World Economic Forum. Schwab wrote that Lagarde possesses all the qualities of "true leadership." This year, it was Lagarde's turn to praise a TIME 100 honoree for "extraordinary talent," "a knack for compromise," "natural reserve," and "a desire for clarity." The honoree? Chancellor Merkel.

As my colleague Leo Cendrowicz reported, Merkel's favorite for the IMF is said to be a fellow German, Axel Weber. He was tipped to lead the European Central Bank until he withdrew from the race in February and left Germany's Bundesbank citing "personal reasons."

Another German name that comes up is Peer Steinbrück, Germany's finance minister under Merkel's grand coalition with the opposition Social Democrats. The idea of a national master in an international institution always has its charm, but so does the prospect of a steady pair of hands in a role of such significance for the global economy, especially after Strauss-Kahn's entanglements.

Moreover, the personal chemistry between Merkel and Lagarde is palpable. I first noticed their rapport in 2009 when the G-20 met in London at the height of the global banking crisis. During a joint Franco-German press conference before the summit, Merkel seemed visibly tired of the theater put on by her counterpart, President Nicolas Sarkozy. As he postured and spoke—mentioning Merkel only in passing—she pulled a sharp face. Lagarde caught the expression and shook her head, and the two women exchanged wry smiles. That fleeting moment revealed an instinct shared by women and one that could make the prospect of Lagarde at the IMF palatable to Merkel: an instinct for getting on with the job, with a minimum of gallery play.