Brussels, 23/05/2011 (Agence Europe) - French Economy Minister Christine Lagarde is increasing her hold as favourite European candidate to take over from fellow French national Dominique Strauss-Kahn at the helm of the International Monetary Fund (see EUROPE 10383). Although she has not expressed any interest in the job, she was given hefty backing this weekend of the British and German finance ministers, in the wake of Italy and Sweden's backing. There are two other European figureheads competing with her, namely Belgian Finance Minister Didier Reynders, who has announced that he is standing, and Leszek Balcerowicz of Poland, backed by Polish Prime Minister Donald Tusk. Balcerowicz supervised the conversion of the Polish economy to a market economy after the collapse of communism. The final decision about Europe's candidate may be made at the G8 summit in Deauville, France, this week.
Anxious to end the DSK affair as soon as possible, the IMF management board has announced the timing of the appointment, by consensus, of the new director of the IMF. The list of candidates will be closed on Friday 10 June and three short-listed candidates will be quizzed by the management board, which will announce its decision by Thursday 30 June. Giving the IMF deputy directorship to an emerging economy national may be decided as a consolation prize in order to keep the tradition of a European heading the IMF and an American the World Bank. (M.B./transl.fl)