Wednesday, 25 May 2011

Helming the IMF......

Essentially Dominique Struass-Kahn's(DSK) zippers did him in. Monitoring the international news I was mortified by the pathetic wincing of some DSK's country folk: Sarkozy they claimed had effectively unzipped his compatriots pants: hogwash. A case of selective amnesia over a record of such dalliances if you ask me.

     The IMF buildings where the fate of developing nations has been decided for decades
Now the search is on for DSK's replacement. Christine Lagarde the French finance minister has announced her candidacy. I am wary. This Madame controversially supported her colleague( then French foreign minister Michele Alliot-Marie) who was holidaying in Tunisia when the uprisings there began(the international press has been completely dumb about this since she announced).  Like DSK does she bring along to a potential leadership of the IMF some controversial baggage?

But the key point for me is the need for the BRICS to take their chance. The idea that an American will run the World bank while a European heads up the IMF is such a deadwood idea in the light of the ongoing  geo-economic and political restructuring of the world. The BRICS have issued a statement. Promising. They should maneuverer more. Of course the Europeans and Americans hold the largest number of votes. But this must change and other policies as well; the more reason why a smart, knows-what-time-it-is  non-European is my choice.  In the IMF contest lies a very public symbolic power tussle pitching the old dominant global power blocs against those trying to break down the doors. I am watching closely.     

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