Thursday, November 15, 2007

Lagarde en queue du peloton

The Financial Times has issued its annual ranking of European finance ministers, and Christine Lagarde comes in last, although the FT seems skeptical of its own methods:


At the other end of the scale trails Christine Lagarde of France - one of this year's debutantes - who is ranked as the worst performer. France's fiscal recalcitrance continues to raise eyebrows across the rest of Europe while the hyper-activity of Nicolas Sarkozy, the president, especially in economic affairs, creates confusion about who is really running the show.


The FT guide, by nature, uses crude yardsticks. Ms Lagarde could well ask just how should a finance minister be judged - and over what period? What is the appropriate size for a fiscal surplus or deficit or the appropriate tax rate on labour or capital? But benchmarking performances has become as popular among European policymakers as talent shows on television - and there seems no reason why finance ministers should be left behind by fashion.

1 comment:

Anonymous said...

^^ nice blog!! ^@^

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