Home / Finance / The ad business needs someone sensible to run global financial policy – so let’s hear it for France’s Christine Lagarde

The ad business needs someone sensible to run global financial policy – so let’s hear it for France’s Christine Lagarde

The global ad business has been booming for the past year but all that could come grinding to a horrible halt if there isn’t a solution to the Eurozone problems (the fear that Greece, Ireland and Portugal will go bust with Spain and Italy following in their wake).

The International Monetary Fund is the court of last resort for countries with problems so it’s rather important that there’s someone in charge who’s cool, calm and sensible and (bearing in mind the problems of the previous hot lapin in the job, Dominique Strauss-Kahn) a woman.

The favourite for the job is French finance minister Christine Lagarde although many people think it’s about time someone from China or India was given the job of organising the world’s overdrafts.

And they’re right of course but Europe is the problem at the moment and Ms Lagarde, a former top lawyer before she entered politics, is the person to fix it.

But will she be undone by les scandales Francais?

She is supposed to have helped out Bernard Tapie, former boss of Marseille FC, when he was in trouble over his corrupt activities.

And, no doubt, the hacks will be poring over her private life (despite refusing to dye her hair Lagarde is an attractive woman, the Emmylou Harris of Paris politics).

Lagarde has been noticeably sensible on the French deficit problem following the financial crisis, realising that you need to strike a balance between cost cuts and growth (without the latter cost cuts don’t work, which UK chancellor George Osborne might bear in mind).

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So Christine’s the gal for the job. WPP’s Sir Martin Sorrell and Publicis Groupe’s Maurice Levy probably think so too.

Here she is.

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About Stephen Foster

Stephen is a former editor of Marketing Week and London Evening Standard advertising columnist. He wrote City Republic for Brand Republic and is a partner in communications consultancy The Editorial Partnership.
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