Posted on 09/29/2007 1:03:54 AM PDT by Cincinna
The International Monetary Fund chose Dominique Strauss-Kahn of France as its new leader Friday as the organization faced questions about its relevance in a world that seemed to need it less and less.
The Fund's 24 executive directors said they had chosen Strauss Kahn, a former Socialist finance minister, by consensus - that is without a vote.
Strauss-Kahn, 58, will replace Rodrigo de Rato of Spain on Nov. 1 and will serve a five-year term.
The vote defied critics of Europe's historical claim to the post and some who had questioned whether Strauss-Kahn was an appropriate choice.
The French official said in a statement that he was "determined to pursue without delay the reforms needed for the IMF to make financial stability serve the international community, while fostering growth and employment." (SNIP)At the same time, the U.S. wants the IMF to become an impartial adjudicator of members' foreign exchange policies, hoping to press China and other emerging economic powers not to interfere with the value of their currencies to gain a trade advantage.
(SNIP)Many critics wrote Strauss-Kahn off last year after he failed to win his party's nomination for the French presidential election and looked set to finish his career as an economics professor in Paris.
But Nicolas Sarkozy, who defeated the Socialist candidate in the election, endorsed Strauss-Kahn as part of his efforts to reach out to some leading Socialists.
(Excerpt) Read more at iht.com ...
yitbos
SuperSarko has won another big one..this time a double-header.
DSK was the favorite candidate to take on Sarko for the Presidency. Segoline Royale and her HINO bumped him out to take the job herself. She lost big time, the couple split, and the rest is history.
DSK was the most competent, well liked leader in the PS. He would have been the ideal candidate to challenge Sarko in 5 years.
So.. Sarko picks him and supports him to head the IMF. This gives the IMF a brilliant French economist as its director, diffuses him as a leader of the PS, actually gets him rejected by the PS, and eliminates DSK from the competition in 5 years.
DSK is married to the lovely Anne Sinclair, news anchor on French TV for many years.
Why does one put a Socialist at the head of an monetary institution?
Why’s the sky blue? Why’s the grass green? How does PosiTrac on Plymouth work? It just does.
Every time I see a headline about IMF, I think about Mr. Briggs or Mr. Phelps picking up the “Impossible Missions Force” binder, to select a team for an assigment.
1. Dunno.
2. Dunno.
3. By means of a centrifugally actuated clutch which responds to the differential rotational rate of the two output gears when a certain level is exceeded by locking them together, and unlocking them when the differential torque falls below a certain level. Just a guess.
The vote defied critics of Europe's historical claim to the post and some who had questioned whether Strauss-Kahn was an appropriate choice.Thanks Cincinna.
Well...there ya go. :P
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