MEPs back Christine Lagarde's candidacy as IMF head

June 8th, 2011

An overwhelming majority of MEPs voiced support for French Finance Minister Christine Lagarde's candidacy as leader of the International Monetary Fund (IMF) during a short debate on 6 June 2011.

(...) Some MEPs criticised the method by which the new managing director of the IMF will be chosen, with Belgian green MEP Philippe Lamberts describing the process as "half-baked".

Meanwhile German MEP Jürgen Klute from the far-left GUE group accused Europe and the United States of "carving up" important economic positions between them.

Mr Klute called for reform of the IMF leadership selection procedure, saying that developing countries should have a greater say in choosing a leader. (...)

Read the full story here!