Monday, May 23, 2011

Swiss might not back European as IMF head

Switzerland will support the best candidate for the top job at the International Monetary Fund and will not necessarily back a European, the Alpine state's top official at the global lender told a paper on Sunday.

In an interview with Der Sonntag, IMF Executive Director Rene Weber said: "Switzerland is not a priori supporting a European. For us the qualifications, the track record, and the requirements of the mandate -- maintaining stable currency and financial relations -- are key."

Given the euro zone debt crisis, having a non-European head could even be preferable, Weber said.

"It could on the contrary be better if an external person points to the economic weak points within the euro zone.

This comes in an interview with Der Sonntag newspaper by IMF’s Swiss Executive Director Rene Weber who, as one of the 24 members of the Fund’s Executive Council, will be voting for the IMF’s new chief.

Given the euro zone debt crisis, having a non-European head could even be preferable, Weber added.

French Finance Minister Christine Lagarde has been touted by many European governments since Dominique Strauss-Kahn resigned as head of the IMF after being charged with trying to rape a New York hotel maid on May 14.

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