“As global efforts to harmonize financial regulation founder, the new IMF chief will be in a unique position to redirect the discussion. France’s Christine Lagarde has the skills and credibility to play a leadership role among the competing actors on the regulatory stage: G-20, ECB, Federal Reserve, Basel, and others.

“Implementation of national reforms, such as the Dodd-Frank Act in the U.S., is stymied by the ever-present threat of laxer reforms in foreign jurisdictions. The global stage lacks an eloquent spokesperson who can articulate a coordinated approach to financial regulations. Ms. Lagarde could fill that void.”

Contact Cornelius Hurley, 617-353-5427, ckhurley@bu.edu, Twitter: @ckhurley