Christine Lagarde

A vote on the IMF job?

Christine Lagarde is becoming the new head of the European Central Bank.
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Christine Lagarde is becoming the new head of the European Central Bank.

The Financial Times is reporting on Friday's front page that EU finance ministers are to vote today on Europe's candidate to succeed Christine Lagarde as managing director of the International Monetary Fund.

The EU's 28 finance ministers will vote via email on a shortlist of at least five names and is necessary because a consensus cannot be reached, the FT said.

Now, in an update, the FT reports that the UK's government has told the EU it does not approve of the unprecedented vote and that it missed the EU's deadline to put forward candidates.

It reports that the UK wrote to France — which is leading the negotiations — to say it was “premature to rush to a voting procedure, in particular as the [IMF] nomination period only closes on 6 September”.

The names on the shortlist are Jeroen Dijsselbloem, the former Dutch chair of the eurogroup of EU finance ministers, Olli Rehn, Finland’s central bank governor, Nadia Calviño, Spain’s finance minister, and Kristalina Georgieva, the Bulgarian World Bank chief executive.

Mark Carney, governor of the Bank of England, regarded as interested in the position, told BBC Radio 4's Today Programme, that the IMF position was an "extremely important role".

Carney in the running for IMF top job?

Today Programme

BBC Radio 4

Christine Lagarde and Mark Carney
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Christine Lagarde and Mark Carney

Christine Lagarde has now resigned as head of the International Monetary Fund (IMF) - as widely expected.

"The debate's going to be now who is going to replace her at the IMF," says Laura Foll, fund manager at Janus Henderson Investors. "And one of the names being talked about is possibly Mark Carney."

She says: "Traditionally, the IMF has been headed always by a European."

Mr Carney is Canadian but Ms Foll points out that the Bank of England Governor "does have British and Irish passports which sort of puts him forward for the job effectively but he's just one of a long list of people speculating who it could be."

George Osborne linked to IMF job

George Osborne
PA Media

Who might replace Christine Largarde as head of the International Monetary Fund after her nomination to run the European Central Bank?

According to reports, George Osborne, former Chancellor and current editor of London's Evening Standard, would like to take on the role.

The Financial Times says he was the first person to back Ms Lagarde for the role in 2011.

A number of other contenders are listed for the role including Bank of England governor Mark Carney and Mario Draghi who is leaving the ECB.