Kristalina Georgieva, the new head of the IMF | The …

The 28 countries of the European Union had to choose their candidate for the leadership of the International Monetary Fund (IMF) between the Dutch Jeroen Dijsselbloem, former president of the Eurogroup and backed by Germany and the CEO from the World Bank, the Bulgarian Kristalina Georgieva. Finally, the EU has decided that Kristalina Ivanova Georgieva would be the successor of France's Christine Lagarde at the head of the IMF after defeating four other European candidates.

With the support of the Germans, Dijsselbloem became the favorite to lead the multilateral body that closely monitors the Argentine economy. The former Dutch finance minister has a reputation for being inflexible. He was one of the leaders in the surveillance of Greece at the worst moment of his crisis and, in March 2017, he came to say that the countries of southern Europe could not spend all their money in alcoholic beverages and women, then come to seek help inadvertently. He was forced to apologize to the European Parliament after a first resistance.

But he was relegated by Georgieva. With the main support of France, he defeated Dijsselbloem, the favorite candidate of the northern European countries and hated to the south after declaring that the southern countries had had problems during the financial crisis money in "women and drinks "instead of saving him. Dijsselbloem, although he was Dutch finance minister, has no training as an economist, but an agronomist.

The appointment of Georgieva is a way to compensate the countries of Eastern Europe, who remained in early July without any high position in EU institutions when it was decided to renew the direction of the block. Georgieva did not obtain its qualified majority designation according to European Council standards: 55 countries representing at least 65% of the population. He stayed at 56 and 57%, but clearly beat Dijsselbloem.

In the unwritten rules that govern the financial system born of the Bretton Woods agreements, the IMF presidency is badumed by a European bank and a world bank by an American. Europe will have to present its name before 6 September, while the procedure for selecting the post of Managing Director of the IMF will end on 4 October.