Swimming Upstream

Meet Christine Lagarde, Europe's consensus choice to replace Dominique Strauss-Kahn as chief of the IMF.

BY ERIC PAPE | JUNE 1, 2011

PARIS, France — French government ministers can come across as remarkably close to some of their stereotypes. Some are haughty and pander to their bosses -- the prime minister and president -- like royal courtesans. Many talk eloquently but with little substance, as though speaking well is more important than saying something meaningful. And a few act as though they believe that, as a result of their positions, they are virtually untouchable.

Then there is Christine Lagarde, universally seen as the front-runner -- and Europe's strongest bet -- to become the next managing director of the International Monetary Fund (IMF). As France's finance minister since 2007, she was the first woman to ever oversee a G-8 economy, and yet she comes across in one-on-one encounters as down to earth, warm, engaging, and a bit quirky. (In a film, Annette Bening would play her perfectly.) Surely, few other government ministers are vegetarians, have ever competed in synchronized swimming from early adolescence, or had a mother who moonlighted as a rally car driver.

Those who interact with Lagarde often sense that her professionalism was shaped as much by the United States as by France. While she grew up in de Gaulle's France, she spent a year at Holton-Arms, a girls' school in Bethesda, Maryland, and she did a stint as an intern in Washington for William Cohen, a Republican congressman. Like many others, she failed to gain admission to France's prestigious École Nationale d'Administration, an elite finishing school for much of the political class, instead choosing to study law and garnering an offer from the Chicago office of the prominent international law firm Baker & McKenzie.

These days, she makes a special effort to avoid jargon, lingo, and wonkiness, and she speaks nearly flawless English, which is extremely rare for top French government officials of her generation. How well? She not only tangled with Jon Stewart on the Daily Show a couple of years back, but also managed to convey some meaningful points about international economics. More recently, on May 25, she even launched a Twitter account to support her IMF candidacy.

The combination of her quirky upbringing with a single mother, after the death of her father during adolescence, and the decisions she made to repeatedly return to the United States has led to her comfort with being something of an outsider in the workplace. In Chicago, Lagarde was a rare female attorney in a male-dominated law firm -- and she rose to the top, eventually becoming its first-ever chairwoman. She so fully inculcated in herself the pragmatic American professional culture that she proved to be an oddity amid her highly formatted French colleagues when she returned to Paris full time after she was recruited into government in 2005 by Prime Minister Dominique de Villepin. Still, she rose from deputy minister of foreign trade under then-President Jacques Chirac to become agriculture minister two years later, before the incoming President Nicolas Sarkozy, impressed with her can-do spirit, tasked her with running the economy.

The competence and pragmatism that Lagarde has shown in her current position help to explain why she has won the strong personal endorsement of U.S. Secretary of State Hillary Clinton. "I actually know her. I admire her.... I am a strong supporter of qualified women, of which she is certainly one, being given the opportunities to lead international organizations," Clinton said on May 26. (The United States will not officially highlight its preferred candidate until after June 10, once all the candidates have been official declared.)

BERTRAND LANGLOIS/AFP/Getty Images

 

Eric Pape is an American journalist based in Paris. Follow him at twitter.com/ericpape.

KASEMAN

9:10 AM ET

June 2, 2011

Best IMF reform if she gets the job

A lawyer and a woman no less! A first if she gets in. Clearly smarter than all them male bankers and economists who have screwed up the west's economies.

 

DAIVA

8:40 AM ET

June 3, 2011

Pk is sitting on nuclear bomb

Pk is sitting on nuclear bomb almost been given to insurgents. Dictatorship, state biases, government playing games with US and taliban, ISI a symbol of debauchery, home land of taliban-pakistan, lashkar-e-taiba and seo on, citizens going to countries all over world to countres like India, US, UK to plant bombs

 

JOHNNY ALEXANDER

12:05 PM ET

June 2, 2011

Christine Lagarde

Was living in France for three years, and I continue being greatly unimpressed by her ability, though she comes across like a nice person and nowhere as detestable as her government colleagues. However, you can't take seriously a person that considers a growth rate of 0.6% as "astounding", and has now spent the past two years rejoicing about the great news on the labor market when joblessness was growing.

 

ANDREISUCIU

7:13 PM ET

June 2, 2011

Potential Winning Candidate

She would be great to replace him if she is not circled by Income Entourage

 

ANDREISUCIU

7:17 PM ET

June 2, 2011

She might win

She is the next in charge but she should be carefull with Income Entourage

 

DAIVA

8:45 AM ET

June 3, 2011

has now spent the past two

has now spent the past two years rejoicing about the great news on the labor market when joblessness was growing dovanos

 

DAVID SHILLING

2:22 PM ET

June 3, 2011

France's high unemployment rates

I love Christine Lagarde, too, and hope she becomes the next IMF Chief. But Eric Pape's statement that U.S. unemployment almost doubled after the financial crisis, while France's "rose only about 20%" is misleading. The U.S. rate went up to 10% from about 5%, while the French rate went up to 10% from 7.6% in Jan and March 2008. Starting with a considerably higher unemployment rate is not a demonstration of good economic policy.

 

RANDALLPI

4:12 PM ET

July 1, 2011

Swimming Upstream

Meet Christine Lagarde, Europe's consensus choice to replace Dominique Strauss-Kahn as chief of the IMF. I love Christine Lagarde, too, and hope she becomes the next IMF Chief. But Eric Pape's statement that U.S. unemployment almost doubled after the financial crisis, while France's "rose only about 20%" is misleading. The U.S. rate went up to 10% from about 5%, while the French rate went up to 10% from 7.6% in Jan and March 2008. Starting with a considerably higher unemployment rate is not a demonst retirement planning Was living in France for three years, and I continue being greatly unimpressed by her ability, though she comes across like a nice person and nowhere as detestable as her government colleagues. However, you can't take seriously a person that considers a growth rate of 0.6% as "astounding", and has now spent the past two years rejoicing about the great news on the labor market when joblessness was.