France's Lagarde eyes IMF leadership

Emerging giants denounce Europe lock on top job of world's key lender

PARIS / BEIJING - France's Christine Lagarde announced her candidacy for the presidency of the International Monetary Fund, amid calls from the five major emerging economies for an end to the tradition that a European chairs the IMF.

The French finance minister announced her intentions on Wednesday, the eve of a G8 summit, after securing the backing of the 27-nation European Union and support from the United States, diplomats said.