The Former France Finance minister Christine Lagarde later takes over as the head of International Monetary Fund. She was chosen by 24, board of members as the first woman to head the IMF.

After Dominique Strauss-Kahn resigned following his arrest in May in New York. The head position in IMF became vacant. Mr. Strauss-Kahn denied the charge of sexual assault. Mexico’s Agustin Carstens was beaten by Ms Lagarde to the job. She got support from the EU, Us and emerging nation’s of the market India, Brazil and China.

While last week announcing its decision, the board of IMF said both the candidates were highly suitable for the job, but decided to go for Ms Lagarde “by consensus”. The BBC’s Jonny Dymond in Washington said Ms Lagarde took the helm of IMF when there is global financial problem going on. In the Euro-crisis the fund is up to the elbow and is trying to bail out debt stricken Greece.

The first task of Ms Lagarde in her terms of five years would be to deal with the efforts of IMF and European Union get a solution for Greek debt crisis. She also needs to prevent the contagion to several other economies of Eurozone. Well Ms Lagarde is the first woman to become the managing director since 1944 when IMF was created. But she maintained the on going tradition of the post held by a European only.

It has been a pattern that a European gets the IMF and the top job at the world Bank is taken by American.