Thursday, November 24, 2011
Does the nationality of the next IMF director really matter all that much?
There's already a debate about the nationality of the next IMF managing director. Some newspapers say that European countries want an European for the post, given the Euro debt crisis. Others say that 'emerging economies' are pushing to put through someone from those countries (China, Turkey, Mexico). But does it really matter? Financial interests act worldwide, and capitals don't really have a nationality...|||From an economic standpoint it doesn't matter at all. But if you think the IMF is all about economics rather than politics, you would be mistaken.|||It has been a collusion between two camps, the US gets the world bank,Europe gets the IMF. The IMF is now very important to Europe recovery,especially Greece and Ireland. They won't let it go.
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