Thursday, May 26, 2011

European Commission President Jose Manuel Barroso, President IMF support Lagarde election

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BRUSSELS, May 26 (Xinhuanet Liu Xiaoyan) European Commission President Jose Manuel Barroso has expressed support for the French Economy, Finance and Employment Minister Christine Lagarde run the International Monetary Fund (IMF)Executive Officer.

Lagarde announced in Paris on 25 May election IMF president. Barroso said in a statement later, the French Finance Minister Christine Lagarde, the euro group members, as well as the Group of Twenty finance ministers rotating presidency, is highly respected in the international community.

Barroso said the EU Commission has been working closely with the IMF, thatLagarde capacity and in strengthening global economic governance role, the IMFmission and is essential for maintaining global economic stability.

Since last year, IMF participation in the European Union to Greece, Ireland and Portugal, three countries, a sovereign debt crisis relief.

Since the former IMF Managing Director Dominique Strauss - Kahn has recentlyresigned because of sexual scandals, the new president regarding the selection of anational focus. European countries with the fastest speed to reach agreement on thenomination of candidates. French Finance Minister Christine Lagarde firstappearance as the most popular candidate.

Lagarde said on that day, his election is to allow European Buzhi Yu in a disadvantageous position, and promised to do if elected to ensure the full 5-year term, and in the end the reform of the current IMF.

Foreign Ministry Spokesperson Jiang Yu 26, to run for president of the International Monetary Fund regarding the press conference that the International Monetary Fund,President, Vice President and other management staff of international financial institutions, the selection of governance structure is an integral part of the reform.According to leaders of the Group of Twenty consensus, including the International Monetary Fund, including management of international financial institutions, the selection should follow an open, transparent, merit, should increase therepresentation of emerging market countries, reflecting changes in world economy.

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