France’s Christine Lagarde was on Tuesday named to be the first-ever female chief of the IMF, facing an immediate crisis as violent Greek anti-austerity protests rocked eurozone stability.
The French finance minister, widely respected for her leadership during Europe’s financial crisis over the past three years, was chosen to replace fellow Frenchman Dominique Strauss-Kahn, who resigned abruptly on May 18 after being arrested in New York for the alleged sexual assault of a hotel maid.
“The executive board of the International Monetary Fund today selected Christine Lagarde to serve as IMF managing director and madam chairman of the executive board for a five-year term starting on July 5, 2011,” the Fund said in a statement.
