Christine Lagarde is staring pensively at her office wall, covered with dozens of framed caricatures marking the highs and lows of her six years as a government minister. One in particular has been drawn to her attention. It is clear she is seeing it in a new light.

The picture shows the always elegantly dressed finance minister in stilettos and fishnet tights wielding a whip over a banker. Ms Lagarde is wondering whether the picture should have a place on her new wall, if she succeeds in becoming the next managing director of the International Monetary Fund.

The answer must be yes. After all, Ms Lagarde’s easy-going humour, as well as her generally acknowledged competence, are two of the reasons why most of Europe is backing her to replace Dominique Strauss-Kahn, now facing charges of allegedly assaulting a New York chambermaid, which he denies.