Christine Lagarde - New IMF Chief - World News & Politics

Merope

Posts: 8,214

Christine Lagarde, France's Minister of Finance, has been selected as the new managing director of the International Monetary Fund. Story here. Lagarde replaces Dominique Strauss-Kahn, who is currently awaiting trial in Manhattan on sexual assault charges - including attempted rape.

Lagarde's appointment maintains Europe’s longstanding hold on the IMF's top job; her appointment also makes Lagarde the first female managing director of the IMF. In its press release announcing Lagarde's selection, the IMF's executive board said it chose Lagarde “by consensus” over Mexican central bank governor Agustin Carstens. It appears that last-minute backing by the US pushed the consensus in favor of LaGarde.

Lagarde's five-year term begins July 5.

Lagarde will take over a global institution that is playing an increasingly central role in managing the world economic crisis, with tens of billions of dollars in loans outstanding and supporting credit lines available to keep countries out of trouble.

In her capacity as French Finance Minister, Lagarde played a central role in crafting an initial round of plans to help Greece. She’ll now be renegotiating much of that as head of the IMF.

Lagarde has assured IMF members that she will not be an easy touch for European nations in need of help. France shares the euro currency with Greece and other troubled European economies that are under the IMF’s watch, and its banks and other major institutions have a direct interest in the outcome of ongoing crisis talks.

She has also noted the “open wounds” left at the IMF following Strauss-Kahn’s arrest. She has said the IMF must now prove it “is not only leading in terms of expertise, but also in terms of integrity and work ethics. We must consolidate and, if needed, restore staff pride in working at the IMF, to get us through the healing process.”

The IMF is responsible for approximately $320 billion USD.

Your thoughts?

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MMarcoe

Posts: 11,438

She's got a lot of pressure on her to prove that a woman can be a good IMF head, and that a woman won't go around raping people. So she'll be on her toes.

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Erey

Posts: 15,097

sounds like she is going to do some house cleaning which is probably long overdue. There are probably alot of inappropriate work practises there that need cleaning up.

And she seems rather sober which at this stage is probably a better choice than a infamous playboy.

CharikIeia

Posts: 8,303

Jun 28, 2011 -- 5:51PM, Erey wrote:

sounds like she is going to do some house cleaning which is probably long overdue. There are probably alot of inappropriate work practises there that need cleaning up.

Why would you think so?

tl;dr

Erey

Posts: 15,097

Jun 28, 2011 -- 5:55PM, CharikIeia wrote:

Jun 28, 2011 -- 5:51PM, Erey wrote:

sounds like she is going to do some house cleaning which is probably long overdue. There are probably alot of inappropriate work practises there that need cleaning up.

Why would you think so?

This part of the OP:

She has said the IMF must now prove it “is not only leading in terms of expertise, but also in terms of integrity and work ethics. We must consolidate and, if needed, restore staff pride in working at the IMF, to get us through the healing process

To me those are code words that some changes need to happen around here. Part of the story is that in the IMF there is alot of sexual harrasement and just inappropriate in that regard. I think she is going to focus on changing that and probably alot of other things

Ur2

Posts: 4,087

From what I'm read, this clown, Strauss-Kahn had a long history of womanizing. To think that he'd be the only one would be a longshot.

I wish Ms. Lagarde well in her new position. Maybe something positive will come of it.

Thanx,

Ur2

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CharikIeia

Posts: 8,303

I think the IMF is not special in that respect. Sexual misconduct happens a lot in the male power élite, wherever it occurs. That is just one of the many good reasons why in Europe, there will be laws enforcing a minimum women's quota for boards of directors...

tl;dr

Erey

Posts: 15,097

Jun 28, 2011 -- 6:31PM, CharikIeia wrote:

I think the IMF is not special in that respect. Sexual misconduct happens a lot in the male power élite, wherever it occurs. That is just one of the many good reasons why in Europe, there will be laws enforcing a minimum women's quota for boards of directors...

Well just because it is common does not mean it should be tolerated. I mean flirting is one thing, sexual assault and threatening one's career is another.

Although I don't agree with quotas. I think many organizations are headed by very ethical and respectfull males. I don't like this idea that a woman has to babysit a man. That seems to be gender policts in the wrong direction. It used to be men had to babysit women.

CharikIeia

Posts: 8,303

Jun 28, 2011 -- 6:39PM, Erey wrote:

I don't agree with quotas. I think many organizations are headed by very ethical and respectfull males. I don't like this idea that a woman has to babysit a man. That seems to be gender policts in the wrong direction. It used to be men had to babysit women.

As psychology proves beyond any reasonable doubt, males are excessively risk taking compared to females. A female banking sector would not have led to the recent crashes, I am very convinced about that.

I.o.w., this is not about babysitting. It is about accountability.

tl;dr

Erey

Posts: 15,097

Jun 28, 2011 -- 6:54PM, CharikIeia wrote:

Jun 28, 2011 -- 6:39PM, Erey wrote:

I don't agree with quotas. I think many organizations are headed by very ethical and respectfull males. I don't like this idea that a woman has to babysit a man. That seems to be gender policts in the wrong direction. It used to be men had to babysit women.

As psychology proves beyond any reasonable doubt, males are excessively risk taking compared to females. A female banking sector would not have led to the recent crashes, I am very convinced about that.

I.o.w., this is not about babysitting. It is about accountability.

Accountability by any other name is babysitting. I mean would we ever accept male quotas in female dominated organization? Never! And yes when I think of the people I know who are risk takers (some risk taking is a very good trait and the inability to risk is a rather poor trait for a leader) most are male. But I know plenty of sober, conservative, ethical male leaders.

I am thinking of the muslim ruling that a female's testimony is worth half of a males because females are considered more emotional and vunerable to emotions. We abhoor such things in the west and for good reason. That females need a MALE Mayrham to guard her and to be in charge so she does not make foolish (emotional) decisions. Again, we hate that. This seems to be in the same vein. The same kind of sexism and stereotyping. And frankly I find such a ruling to be humilating. It is humilitating for a muslim woman that her testimony only counts half and it would be humiliating for a european male to have this kind of gender based "accountability"

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