Europeans Line Up Candidates to Lead the IMF

It's been barely 24 hours since Ursula von der Leyen was confirmed as the next head of the European Commission and EU capitals are already engaged in diplomatic manoeuvres to fill another top job, the Financial Times reported. At stake is the International Monetary Fund, which will need a new managing director now that Christine Lagarde is leaving to become the next president of the European Central Bank on November 1. The IMF post has been held by Europeans ever since the institution was created; EU nationals (often French) have led the Fund while Americans have run the World Bank. But replacing Ms Lagarde with another European won't happen without a fight this time. Powerful emerging economies such as India, Brazil and China want to finally break Europe's stranglehold on the institution and get their slice of the top jobs action. Read more