Europe soon to name Strauss-Kahn successor

German Finance Minister Wolfgang Schaeuble announced on Friday that Europe will soon decide on a candidate to become the next chief of the International Monetary Fund (IMF), reports said.

Schaeuble said Germany is looking forward to present a candidate from their country to replace Dominique Strauss-Kahn, but is in favor of a joint decision by all the European countries on whom to present.

French Finance Minister Christine Lagarde is being considered for the position, but no decision has been taken so far. An anonymous poll conducted on Thursday showed that majority was in favor of Lagarde to succeed Strauss-Kahn.

Lagarde too in a statement said any decision to be taken will be on a mutual basis by all the European countries.