Crazy recent events have opened an opportunity for new leadership at the International Monetary Fund (IMF). The Managing Director position has always gone to a European. The United States – which provides the most IMF resources and gets the most votes in return- has been fine with this arrangement. We get the IMF headquarters (just down the block from the White House and US Treasury) and the head of the other major financial institution, the World Bank. The front-runner to lead the IMF is yet another European – Christine Lagarde. But appointing another Western European would be a mistake for the United States.
For more, check out he Vreelander.