IMF chief's arrested at a crucial moment for Europe

The arrest of Dominique Strauss-Kahn, managing director of the International Monetary Fund, on sexual-assault charges in New York City comes at a time when he is playing a central role in managing Europe's sovereign-debt crisis. He was headed for a meeting with German Chancellor Angela Merkel to discuss Greece's deteriorating fiscal condition when police boarded an Air France plane and took him into custody. The IMF said John Lipsky, first deputy managing director and a former Wall Street economist and executive, is stepping in as acting managing director. Full story here