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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: sea_urchin who wrote (25804)	9/29/2007 8:54:45 AM
From: GUSTAVE JAEGER	Read Replies (1) \| Respond to of 81869

Re: No wonder [Sarkozy] panders to the US and the Zionists -- perhaps, like the Africans, he expects a hand-out. Yep, you've guessed it: like the Russky bums before, Sarkozy expects an IMF bailout: Finance \| 29.09.2007 France's Strauss-Kahn Named New IMF Chief The International Monetary Fund has named Frenchman Dominique Strauss-Kahn as its managing director at a time when the 63-year-old institution faces a crisis of relevancy and legitimacy in a world flush with cash. Strauss-Kahn was handed the reins of the struggling multilateral IMF with backing from the European Union and the United States after a late effort from Russia to install its own candidate, Josef Tosovsky, a former Czech central bank chief who was briefly prime minister of the Czech Republic. The former French Socialist finance minister takes over at the helm of the IMF from Rodrigo de Rato, who is stepping down next month. His nomination puts a Frenchman back at the helm at the IMF, alongside Pascal Lamy at the Geneva-based World Trade Organisation, Jean-Claude Trichet at the European Central Bank in Frankfurt and Jean Lemierre at the European Bank for Reconstruction and Development in London. [and Francophone Philippe Maystadt at the helm of the EIB] "France is no passionaria of globalisation," French daily Le Monde* said in an article ahead of Strauss-Kahn's nomination. "But it is over-represented in this world of international economic and financial institutions. Is there something in the French DNA for this kind of job?" Strauss-Kahn's candidacy was first proposed by the president of France, Nicolas Sarkozy in July and the campaign soon gained momentum with the support of the EU, which collectively holds 32.09 percent of IMF voting rights, and the US, the single largest contributor with 16.83 percent. With the campaign nearing its potentially successful conclusion, Russia, which holds 2.70 percent, put forward Tosovsky, who currently heads the Financial Stability Institute of the Bank for International Settlements in Basel, Switzerland, claiming that he had wide support in the developing world. However, the lending of additional support by Brazil, Argentina, India and a certain number of other large, emerging countries gave the Strauss-Kahn campaign its winning momentum in the days leading up to Friday's vote. New IMF chief's fight for organization's legitimacy Strauss-Kahn will have his work cut at the IMF. The institution faces a financial crisis, as emerging economic powerhouses like China and Russia are flush with cash reserves and the need for IMF loans and their stringent conditions has declined sharply. Interest paid on loans helps finance the institution's operations. [...] dw-world.de (*) eib.org.