Lagarde Backed by the UK
After the scandal that brought him the most of troubles and attention in the world, the head of the International Monetary Fund has resigned. However, this is no relief for the body as it is now governed by no-one but the 24 chairmen. Currently, a new director needs to be appointed as quickly as possible if the organization is to proceed to functioning normally.
One of the most probable people suitable for the position is the French minister of finance, Lagarde who has much of authority to deal with the matters of the International Monetary Fund. Her application is backed by many of the countries who have their say in the governance of the fund and whose future largely depends on the performance of the organization. The UK has given its consent after the UK Chancellor George Osborne has given his consent and has formally backed the application of the French minister.This is a clear sign that thus the Parliament has given consent for the Chancellor to make such a decision and to give formal support.
It has been argued that the UK would propose a British financial expert for the position. However, this was not the case and the financial commentators in the country have not even made a comment on the scenario. Nevertheless, it would have been an extremely suitable position for a UK expert having in regard the fact that the UK needs financial attention from other institutions.
The red diesel Manchester producers and many other people seeking financial support and the back up from a third institution on a global have not waited enough to see a Brit on this highly important position that might focus the Monetary Fund in a more UK prospective.
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