The front-runner to replace the disgraced Dominique Strauss-Kahn as IMF chief will inherit Europe on the brink of disaster.

If International Monetary Fund managing director Dominique Strauss-Kahn's proposal to increase the IMF's war chest by $250 billion is passed, it will likely prolong the euro zone's sovereign debt crisis.

Shareholders are rightly fearful that any sovereign debt rescheduling in the periphery right now will trigger contagion and a full blown banking crisis in Europe's core countries.

Many have written about Dominique Strauss-Kahn's talents and major influence during recent negotiations. History, however, is more likely to remember him as the man who put the IMF on the road to decline, by his misguided handling of the eurozone debt crisis.

It is in this alternate universe that the hopes of G-20 enthusiasts reside.

A clear majority of French citizens believe this is all a conspiracy. Yet every day, it becomes ever more clear that the French--particularly the French socialists who counted DSK as their leader--turned a blind eye to the man's ever more risky and appalling behavior.

Dominique Strauss-Kahn will face two significant challenges when he becomes managing director of the IMF in October.

Christine Lagarde should substantially change the IMF's policies toward Greece.