19 May 2011 Last updated at 06:23 ET
German Chancellor Angela Merkel says she will back a European candidate to head the International Monetary Fund.
Her comments follow the resignation of Dominique Strauss-Kahn, who is in US detention on charges of sexual assault.
Ms Merkel did not name a preferred candidate but said it was important to act quickly in light of the problems afflicting the eurozone.
Germany is Europe’s biggest economy and so Ms Merkel’s voice carries considerable weight, say analysts.
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Germany backs a European for IMF