http___metro-portal.hr_meksicki-pretedent-na-mjesto-celnika-mmf-a-trazi-vecu-fleksibilnost-prema-duznicima_59551_1.xml
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Europe seeks US support for next IMF managing director to be one of its own Christine Lagarde, the French finance minister (pictured), is the name being most widely touted in European circles. “The EU, whose member states are the biggest shareholder in the [International Monetary] Fund, can propose a candidacy of very high quality,” said Nicolas Sarkozy, French president, “Europe must unite.” Other powerful figures, such as Italian Prime Minister Silvio Berlusconi, and John Lipsky, acting managing director of the IMF, gave their backing, describing Ms Lagarde as an excellent choice. Another name mentioned is former British Prime Minister Gordon Brown, though his successor David Cameron has intimated that he would block such a move, and has said the next managing director should be from a eurozone country. However, there are calls for the next head to come from China, India or another developing economy. “Definitely that should happen” said veteran emerging market investor Mark Mobius, who overseas Franklin Templeton’s Emerging Markets Group, “They should put in a Chinese person or an Indian or somebody from the emerging market space, that would breathe fresh air into some of these multilateral institutions”. What the papers say… Europe rushes to stake claim to IMF job: European policymakers are scrambling to stake the continent’s claim to provide the next leader of the International Monetary Fund, after the resignation of Dominique Strauss-Kahn as managing director. Mr Strauss-Kahn’s departure, announced late on Wednesday, followed increasing pressure from the US and other governments for him to step down after he was charged with sexual assault on a hotel maid in New York last weekend. Financial Times >> Christine Lagarde ‘excellent choice’ for IMF: The acting managing director of the IMF, John Lipsky, has said Christine Lagarde, the French finance minister, would be “an excellent choice” to head the organisation. Mr Lipksy has been in charge of the International Monetary Fund since Dominique Strauss-Kahn was arrested on suspicion of raping a hotel maid. BBC News >> After DSK’s downfall, Europe will name the next IMF managing director: The hunt for DSK’s successor will see two opposing forces at work. One force is that of the traditionally dominant Europeans, who want to retain their privilege of naming one of their own to the post and – frankly – need the IMF to fill Europe’s political vacuum in dealing with its financial crisis. The other force is the muscle flexing coming from the developing world, which wants to end the Euro-American duopoly that has run the IMF and World Bank since inception, and argues that an outside candidate would allow developing world economies to more fully trust the IMF. Guardian >> Why the Next IMF Head Must Be European: With Dominique Strauss-Kahn having resigned as IMF general director on Wednesday, the debate about his successor promises to get even more heated. But those who argue the next IMF shouldn’t be European are wrong. Change is coming to international organizations, but it shouldn’t be rushed. The next head of the International Monetary Fund (IMF) will have two tasks. He or she will have to both help stabilize the European common currency and help pave the way for a transition from the Western to the multi-polar world, both institutionally and financially. Das Spiegel >> Europe demands to name next IMF head, US hesitates: European officials closed ranks Thursday to demand that the IMF’s next leader be one of their own, someone with the political savvy to handle the continent’s relentless debt crisis, but the U.S. balked at offering its immediate support. Forbes >> Britain won’t back Gordon Brown for IMF job: Vince Cable dealt another blow to Gordon Brown’s hopes of running the International Monetary Fund by signalling that the Government wants someone from a Eurozone country to replace Dominique Strauss-Kahn. Daily Telegraph >> Nucleus says… Europe must speak with one voice to ensure a candidate of its own ascends to lead the IMF following the demise of Strauss-Kahn, but a rush to have a jointly backed figure in place should not mean the identity of that individual is not carefully considered. Several names have already been mentioned, and discounted, with Christine Lagarde, the French finance minister, being assigned the favourite tag. She would not not be a popular choice universally though, due to her support for unlimited state bailouts, and is seen by those in emerging markets as tarnished by the western European economic struggles. However, she has both experience and clout, both key attributes at a time when Europe’s economy is struggling and in need of direction and leadership. Should she gain the EU’s backing, and that of the US, she should attain the IMF role, but this should been seen as a wake-up call to the old guard that the rest of the world won’t allow the wetsern powers to run these global financial institutions between them any more. Given the financial problems deeply affecting (western) Europe, and given the International Monetary Fund’s importance in resolving such problems, it is essential that the organisation is not left leaderless for too long. Where should that leader come from? It makes economic sense to say from within the EU; the world’s largest economy when taken as a single unit. And furthermore, the individual should not just be from an EU state, but a eurozone state. There are clear economic arguments for the successor to IMF managing director Dominique Strauss-Kahn being a European; but we should not forget the benefits to Europe in terms of power and influence in keeping hold of the International Monetary Fund’s top job. The EU has already begin to come together to discuss their favoured candidate; a candidate who would have both tradition (every permanent head of the IMF since 1946 has been a European), and probability on their side – the EU controls 30 per cent of the vote. With likely US backing – though this is by no means assured – this rises to around 47 per cent. The European Union’s global influence owes much to its ‘soft power’; i.e. it’s economic might. Let us not forget, a unified EU is a mighty global player in these terms, and unified approaches to bodies such as the World Bank and the IMF have wrought great success, and with it far reaching influence. With the EU’s political and military strengths being less effectively pooled, Europe cannot afford to lose control of the IMF in the face of a number of possible rival candidatures from so called ‘emerging markets’. European finance officials say the most likely non-EU nominee would be Kemal Dervis, a former Turkish economy minister who helped Turkey avoid sovereign default with an IMF rescue loan in 2001. Mr Dervis has yet to publicly comment on any possible bid for the IMF leadership. Other possible candidates include Trevor Manuel, economic adviser to the South African president, and Tharman Shanmugaratnam, Singapore’s finance minister. Kazakhstan, backed by Russia and some other former Soviet states, on Thursday nominated Grigori Marchenko, head of the Kazakh central bank, but he is unlikely to command widespread support. Indeed, somewhat ironically, European unity may well ensure success in this particular race. A proliferation of rival candidates can only boost the EU backed individual’s chances, who can be assured of the support of all 27 member states. There will undoubtedly be a good deal of hoo-hah about the concentration of such power in the western world’s hands, but we can be reasonably optimistic that come summer, the EU shall continue to occupy one of the most significant global roles.
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Meksički pretedent na mjesto čelnika MMF-a traži veću fleksibilnost prema dužnicima MMF trenutačno uskraćuje financijsku pomoć ako zemlja primatelj ne zadovolji određene obveze reformi proračuna i smanjenja deficita Agustin Carstens, guverner meksičke središnje banke i do sada usamljeni izazivač prava Europe da postavlja čelnika Međunarodnog monetarnog fonda (MMF), predlaže veću fleksibilnost za zemlje koje primaju potporu MMF-a, izvijestio je u utorak The Wall Street Journal prenosi Hina. Glavni konkurent francuske ministrice financija Christine Lagarde, rekao je da MMF-u treba netko iz tržišta u nastajanju s iskustvom u upravljanju financijskom krizom. Carstens je ovoga tjedna u Lisabonu i Madridu, u okviru globalne ture na kojoj traži potporu za svoju kandidaturu. Bez spominjanja Grčke, Carstens je rekao da zemlje u financijskim teškoćama ne bi trebalo kažnjavati ako ne uspiju ostvariti ciljeve, sve dok one pokazuju predanost. MMF trenutačno uskraćuje financijsku pomoć ako zemlja primatelj ne zadovolji određene obveze reformi proračuna i smanjenja deficita. Ovoga tjedna računovodstvo proračuna Grčke mjere MMF i Europska unija da bi se vidjelo ima li zemlja pravo na sljedeći obrok pomoći. Zabrinutost da Atena nije uspjela ispuniti ciljeve drže europska financijska tržišta na rubu već mjesec dana. Gospodarstava u nastajanju u Aziji i Africi podupiru prekid tradicije da Europa drži vrh MMF-a, ali su Europljani brzo uzvratili s kandidaturom francuske ministrice financija. >>Tko će zamijeniti Strauss-Kahna na čelu MMF-a?>> Bivši izvršni direktor MMF-a Dominique Strauss-Kahn, koji je podnio ostavku ranije ovog mjeseca nakon što je optužen u New Yorku sa seksualno zlostavljanje, bio je usko usmjeren na europsku dužničku krizu te na mjere da se spriječi njezino širenje. Europljani tvrde da sljedeći čelnik MMF-a mora činiti isto, navodi Journal.