IMF Top Job Now Down To Two Candidates
Now it’s a two-way horse-race.
The International Monetary Fund (IMF) has short-listed two candidates, Christine Lagarde and Agustin Carstens, for its next Managing Director.
Stanley Fischer, the governor of Israel's central bank, was recently eliminated from consideration by the Fund, reportedly due to his age (67).
The job became available when the former IMF chief, Dominique Strauss-Kahn, was forced to resign after being arrested for sexual assault in New York.
Lagarde, the French Finance Minister has been aggressively lobbying for the post by making a whirlwind trip through several emerging market nations in order to solidify her candidacy.
Meanwhile, others feel that someone like Carstens, the Governor of the Bank of Mexico, might make a better fit given the rising prominence of the developing world in the global economic landscape.
Lagarde is widely regarded as the favorite. She is believed to have the backing not only of the European Union (EU), but also of emerging market countries Egypt, Indonesia, and the United Arab Emirates.
Meanwhile, Carstens has been endorsed by most Latin American nations. He knows he is the dark horse.
I'm not fooling myself. It's like starting a soccer game with a 5-0 score, Carstens said at the Peterson Institute for International Economics on Monday.
Carstens added however that the selection of another European to head the IMF may present a conflict of interest, given the ongoing problems with Euro Zone debt and Greece’s precarious economy.
We could have a situation where borrowers dominate the institution, he said.
Carstens noted the European debt crisis might need a new perspective, that is, from outside the continent.
What will help me is precisely to have a fresh pair of eyes, he said.
Also someone coming from the outside can in a way speak of their mind more frankly and I think that will be an advantage.”
Ricardo Ochoa, chief of international affairs at Mexico's finance ministry, told BBC that Carstens is eminently qualified to take over the IMF.
He has been on the other side of the table, Ochoa said.
Mexico already has been in the situation where important reforms have to be implemented, and I think that puts him in a situation - to have a more understanding and more sensitive IMF.
The IMF will make its selection by June 30.
The Executive Board will meet with the candidates in Washington DC and, thereafter, meet to discuss the strengths of the candidates and make a selection, the IMF said in a statement.
Daley ThompsonDaley Thompson won two Olympic gold medals in the demanding decathlon - triumphing in the 10-discpline event in both 1980 and 1984. "There is one man who should light the Olympic Flame.Daley Thompson..Londoner and maverick..whistled national anthem on podium #hero." - @Tim_A_Roberts/Twitter
Dame Kelly HolmesDame Kelly Holmes took home gold in both the 800m and 1500m at the Athens Olympics in 2004. Despite an injury-plagued career, she also won bronze in 2000, and was made a Dame in the 2005 Queen's New Year Honours' List. "Daley Thompson and Steve Redgrave are arguing about who should light the Olympic flame. Easy solution: Kelly Holmes. Job done." -@Mr603
Sir Steven RedgraveSir Steven Redgrave won five Olympic rowing gold medals between 1984 and 2000. Twice carried the British flag at the opening of the Games in 1992 and 1996. "Sir Steve Redgrave has to light Olympic flame, 5 successive gold medals is unbelievable." - @BigDogBudd/Twitter
The Right FootWilliam shows of his football skills during a visit to Bacon's College in Rotherhite.
Lighting the Olympic Cauldron has always been an honor reserved for famous athletes, former athletes and/or athletes with significant achievements and milestones. On some occasions, the tradition has even been completed by people who may not possess the fore mentioned qualifications but do in fact symbolize Olympic ideals.
While the London Olympics 2012 is just hours away from kicking off, the one question on everybody's mind is who will light this year's Olympic flame.
With the 70-day British leg of the torch relay drawing close to its end as the last of the 8,000 torchbearers approach the opening ceremony at the Olympic Stadium in Stratford, the decision on who gets to light the flame has surprisingly remained a closely-guarded secret.
As many people that have been rumored to be front-runners for the incredible honor, whoever is chosen by the British Olympic Association will follow greats from previous Games such as Muhammad Ali and Wayne Gretzkey.
"It gives life to the Games. It's the fire which supposedly came from the Greek gods of the past. There have been a lot of famous, and not so famous people who have lit the flame," says BBC commentator Barry Davies.
"I think it should be one person who is an inspiration. It's a good thing that we have so many good candidates, but you are not going to please everyone with the choice," he added.
Click "start" to check out five people most likely to light the Olympic Cauldron at the London Olympics 2012.