bloomberg says strauss-kahn's downfall is the opportunity to break tradition in imf leadership

[Hannah Bell]

Yet the most significant consequence of the scandal will be the effect it has on the IMF itself. It has become painfully obvious that giving the top job to a French, German or even British politician who happens to have some spare time on his hands is no longer good enough...

Strauss-Kahn does, of course, remain innocent until proven otherwise. He denies all charges and his lawyer says Strauss- Kahn will plead not guilty. He is entitled to a fair trial, and may yet emerge from this scandal as a free man. Still, it seems unlikely he will remain in office after the case is over, even if he is acquitted. The reality is that the IMF will need a new managing director. John Lipsky, who is filling in for Strauss- Kahn, is due to leave his post as deputy at the end of August.

Tradition states that a European gets the job. More often than not, it goes to someone French. Normally, they are former bankers, finance ministers or policy makers. There won’t be any shortage of candidates in that mold. Christine Lagarde, the French finance minister, has already been linked to the job. So has Axel Weber, the former Bundesbank chief. Former U.K. Prime Minister Gordon Brown would love to run the IMF, though it seems unlikely he will secure the support of the British government...

The IMF now needs a new kind of leader. The top job should no longer be a consolation prize for someone who missed out on running the European Central Bank. It also shouldn’t be a stepping stone to the French presidency. Or an alternative to the golf course for defeated prime ministers. It should be the summit of a career, and not something you add to your resume on the way to something bigger. There will never be a more important time to overhaul the IMF’s leadership culture....

http://www.bloomberg.com/news/2011-05-17/strauss-kahn-s-downfall-is-chance-for-imf-renewal-matthew-lynn.html