[Guest post by Jarad Vary] Any time you hear about a sensible idea to help keep the world economy afloat, you can bet on two things: First, Mitt Romney will probably give it a tepid thumbs up. Second, Republican lawmakers will make him sorry he did. After all-night negotiations in Brussels, this morning International Monetary Fund chief Christine Lagarde made an encouraging announcement: EU countries had promised $267 billion to boost the Fund’s lending capacity.
When Christine Lagarde was named the new IMF managing director last Tuesday, the announcement came as little surprise to many of those who had been paying attention to the selection process. Lagarde had long been considered the front-runner in the race to replace the embattled Dominique Strauss-Kahn, who, of course, stepped down in May following accusations of sexual assault.