German chancellor wants European to be next IMF chief

0 CommentsPrint E-mail Xinhua, May 20, 2011
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German Chancellor Angela Merkel said Thursday she wants a European to be next the next leader of the International Monetary Fund.

"My opinion is that we should nominate a European candidate," Merkel said. "I will not name any person but will discuss it within the European Union. It is very important that we can find a solution quickly."

Frenchman Dominique Strauss-Kahn resigned as IMF chief Wednesday, saying he wants to devote "all his energy" to fighting sexual assault charges in New York.

Strauss-Kahn's resignation heated up cross-border debate over his successor, with Europe aggressively staking its traditional claim to the job to ensure that Europe's debt crisis is given priority.

Developing nations, however, see Europe's stranglehold on the position as increasingly out of touch with the world economy. China's is now the world's second largest economy. India's and Brazil's have cracked the top 10. Many emerging economies are sitting on stockpiles of cash and have become forces of financial stability, while rich countries have become weighed down by debt.

Merkel acknowledged that some emerging countries have their nominator, but the IMF has been deeply involved in solving the debt crisis of the euro area and needs a European to direct the agency.

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