IMF: Strauss-Kahn Joins the Side of the Angels

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Market Movers

by Ryan Avent

Main

Andre Esteves, UBS's Very Expensive ... Why CEOs Don't Resign

Aug 7 2007 12:46PM EDT

Dominique Strauss-Kahn apparently wants to reform the process which is used to choose the IMF's managing director – the very process which has just landed him in that job. It'll be interesting to see whether he's able to do so. The IMF's managing director is powerful, and the IMF's shareholders are likely to give him quite a lot of leeway in terms of how he runs the organization. But it's far from clear that those shareholders will happily give up their right to install a European at the top of the Fund. In other words, this isn't a decision which is up to the managing director: it's a decision which needs to be made at summit level in Europe and in the US.

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