In a valedictory speech before leaving the European Central Bank in October at the end of his eight-year term, Jean-Claude Trichet called for the creation – eventually – of a central finance ministry for the eurozone with powers to intervene in the budgetary and economic decisions of member states.
The Obama administration is extending an exceptionally warm reception to Chancellor Angela Merkel even though she recently opposed Washington on Libya and on so many economic issues. Why?
Christine Lagarde, France’s minister of finance, seems set to emerge as the leading candidate for the post of Managing Director of the International Monetary Fund, succeeding Dominique Strauss-Kahn, himself a former French Finance Minister. Formal nominations for the post are due on Friday, June 10.
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