UK bookmakers William Hill plc gives Governor of the Bank of Israel Prof. Stanley Fischer 16-1 odds of being appointed as the next managing director of the IMF to replace the disgraced Dominique Strauss-Kahn, who resigned today from his holding cell in New York's Riker's Island jail.
William Hill's favorite for the post is former Turkish Finance Minister Kemal Dervis, with 5-2 odds, followed by former IMF director Montek Singh Ahluwatta of India with 5-1 odds, Bundesbank President Axel Weber, with 7-1 odds, and former British Prime Minister Gordon Brown, with 8-1 odds.
Another outsider on the list is French Finance Minister Christine Lagarde, with 14-1 odds. If appointed she would be the first woman to hold the post. She is tipped as a favorite by "The New York Times."
Since the IMF and the World Bank were founded in 1946, an American has traditionally headed the World Bank and a European has headed the IMF. European leaders want to keep the post in their hands, especially now with the debt crisis in Europe and the IMF's key role in solving it. However, they face challenges from emerging counties.
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