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Germany backs a European for IMF

Germany backs a European for IMF

German Chancellor Angela Merkel says she will back a European candidate to head the International Monetary Fund.

Her comments follow the resignation of Dominique Strauss-Kahn, who is in US detention on charges of sexual assault.

Ms Merkel did not name a preferred candidate but said it was important to act quickly in light of the problems afflicting the eurozone.

Germany is Europe's biggest economy and so Ms Merkel's voice carries considerable weight, say analysts.

But developing nations have said they want more of a voice in the IMF, one of the world's most important multilateral institutions.

Mr Strauss-Kahn had faced pressure to resign amid allegations he sexually assaulted a hotel maid in New York.

He is being detained in Rikers Island jail in New York and will make a second application for bail later on Thursday.

The Frenchman strenuously denies all charges against him and says he quit in order to "devote all my strength... to proving my innocence".

Posted on Thursday 19th May 2011

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