IMF's Koehler named candidate for presidency

Horst Koehler, managing director of the IMF, is to become the candidate of the opposition parties for president of Germany. If he is elected by parliament in a vote on May 23, he will leave his IMF post a year before his term runs out.

Koehler's name emerged at the last minute after the opposition parties became deadlocked in discussions on a joint candidate.

Reportedly, he was woken up at his New York home in the middle of the night to be told

the news.

"I found him surprisingly quickly awake