Those not aware of the events surrounding Dominique Strauss-Kahn have likely been living under a rock this past month. The now former head of the International Monetary Fund was arrested and subsequently charged with offences including rape and sexual assault, creating a media storm and significant concerns about the impact of his absence from a meeting of Eurozone finance ministers. A fortnight on however, Strauss-Kahn has resigned from his post and been released on bail, the Portuguese bailout package has been approved and attention is now focused on who should next head up the IMF.

Most eyes have turned to Ms Christine Lagarde, the French finance minister, as the favourite to take the helm. She has the backing of France naturally, as well as the UK and Germany. She also intends to travel to China, India and Brazil and some African countries in a bid to garner support for her candidacy. With a background in law, she has been in government since 2005 and has held three ministerial posts during that time.

Some commentators have suggested that LaGarde’s nationality may not help her chances, as several former IMF heads have been French. Perhaps in an attempt to pre-empt concerns about her suitability on this basis, LaGarde recently described herself as an ’international animal’. As downsides go, it is hardly likely to be a significant one in the face of her achievements and career history. Former UK Chancellor Alistair Darling has voiced his support for LaGarde, citing her ability to ’see the world through American eyes’ as a factor working very much in her favour. Indeed, the fact that LaGarde has had a significant career working as a lawyer in the United States may endear her to those on the other side of the Atlantic who think it is time that the role went to an American.

The race for the top job has only just begun, but with Forbes’s « 17th most powerful woman in the world » as the current favourite. other candidates may have their work cut out for them.

Photo:flickr,WorldEconomicForum