Lagarde will remain IMF chief

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Lagarde will remain IMF chief

Christine Lagarde is one of the most influential women in the international world of Finance. And it remains there: The International monetary Fund, the 60-year-old for a second term at its peak is confirmed.

Christine Lagarde is and remains the Grand Dame of the world of Finance. This is the French woman at the controls of the international financial power as a woman to be an exception. Since 2011 she has and after the inglorious departure of her compatriot Dominique Strauss-Kahn, the first female Boss of the International monetary Fund (IMF). On the Friday a second term of office for its Executive Director confirmed. Because there are no other candidates, there was also no reason, with the decision up to the latest time at the beginning of March to wait.

Lagarde had in January announced that they for a second term of office start. Germany had, like many other countries, including the USA, Japan, UK, France, China and other emerging markets – in this step welcomed. Russia also had declared, the French have as a successful Boss in a difficult time for the global economy and for the Fund itself proved to be.

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Not in all countries popular

In their function, is the woman with the gray short hairstyle one of the Central figures in the Euro debt crisis has become. But especially in schuldengeplagten countries your Name is not anywhere like heard. Many people in Greece, but also in other countries such as Ireland or Portugal, take the IMF under Lagardes lead to strict pre-conditions for the granting of Hilfskrediten.

The 1956 Paris-born Frenchwoman is regarded as well networked, skilled Verhandlerin, as earlier Synchronschwimmerin can you on your long breath leaving – finally, it has already as a 15-year-old bronze medalist at the French Championships. Prior to her career at the Washington international monetary Fund had as a lawyer, made a name From 1999 to 2004 she headed the US law firm Baker & McKenzie, in their term of office, nod has grown.

As the Finance Minister disputed

In politics came in 2007, when the French President, Nicolas Sarkozy, a trained lawyer, Economist and American studies scholar on the Post of the economic and Finance Minister, laughed. Unpleasant is likely for the mother of two children, a dispute with the French justice. After years of investigation, they should, according to the will of a Commission of inquiry to court – reason is an opaque payment to businessman Bernard Tapie during her tenure as Minister of economic Affairs in Paris. But Lagarde has already announced to challenge this.

Last year was a debate raging, whether, after the end of the Era Lagarde is still the Tradition should be followed, that a European the IMF and an American the world Bank is headed by. The IMF’s Deputy, the US-American David Lipton, the BBC said, the next appointment will be completely on the qualifications of the candidates are based. Therefore, it would be more likely than ever that a Lagarde-followers from a non-European country to come.

More influence for the emerging economies

A few weeks ago was also the biggest Reform in the approximately 70-year history of the IMF is agreed. This should emerging economies – above all China – have more influence in the powerful financial organisation. The claim to power of China and its growing importance for the global economy contributed to the French account by a fourth Vizeposten in the IMF Board for the Chinese Zhu Min created previously as a special adviser to Strauss-Kahn was employed. To your first Deputy, made Lagarde the economic adviser of US President Barack Obama, David Lipton.

While the international Reputation Lagardes rose and 2009 with an award as the “Best Finance Minister of the Euro area” (the Financial Times) has been documented was your economic balance in their own country as rather modest. In December 2008 the government introduced an economic stimulus package with a volume of 26 billion euros on the way, among other things, state aid to the automotive industry.

Although France the peak of the global economic crisis, thanks to robust domestic demand and a large public sector, relatively unscathed, survived, reached in 2010 the budget deficit to a seven and the national debt of 85 percent of the gross domestic product (GDP). This was the trade deficit at 51.4 billion euros.

wen/ul/bea (dpa, rtr, munzinger)