It is clear to all except Europe’s leaders that the time has come to rip up the unwritten rule that the head of the IMF should be a European national. The job should go to the best candidate irrespective of nationality and if that person happens to be from a developing country, so be it.
It would be a damning indictment of the Fund if Europe’s preferred choice, France’s finance minister, Christine Lagarde, was shooed into the top role without a proper assessment of her credentials and without consideration of other equally qualified people.
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