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5/18/11

Europe moves to protect claim to IMF top job - by DAVID McHUGH and GEIR MOULSON

Europe is moving quickly to protect its traditional claim to the top job at the IMF ahead of the expected departure of current chief Dominique Strauss-Kahn, resisting a push from developing countries to appoint someone from another region.

Strauss-Kahn remains jailed in New York after his arrest for allegedly sexually assaulting a hotel maid, and his departure is expected to be only a matter of time.

Germany and other European countries are pre-emptively insisting a European should head the fund, the custom since World War II, given that the eurozone debt crisis is the fund's central issue. But many developing nations note that because of their increasing wealth and role in the global economy, they should have a chance to name the successor.

For more: Europe moves to protect claim to IMF top job - seattlepi.com

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