Source:
GuardianWith the global economy still fragile after the worst downturn since the 1930s and Europe gripped by a debt crisis, the scandal involving Dominique Strauss-Kahn could hardly have come at a worse time for the International Monetary Fund.
The organisation now risks being left rudderless as delicate negotiations take place on the terms of a new loan package to Greece and as the fund seeks agreement on policies to prevent a relapse into recession.
It also looks inevitable that there will be a power struggle to fill the vacuum at the fund, with the developing world insisting that the time has come to end the carve up between the Europeans and the Americans of the top jobs at the IMF and its sister organisation, the World Bank.
Read more:
http://www.guardian.co.uk/world/2011/may/15/dominique-strauss-kahn-arrest-imf?intcmp=239
This is such a strange story. This Dominique Strauss-Kahn was going to run for the Socialist left party in the French election. The French left party can't be very left at all if the candidate they recruit is the head of the IMF. Apparently he was some great reformer in the IMF, but his restructuring deals turned out to be no less repressive than any of his predecessors.