Thursday, May 19, 2011

Merkel says European should replace IMF


German Chancellor Angela Merkel reiterated on Thursday that she wanted a European to become the next IMF chief and that Dominique Strauss-Kahn's exit before the end of his term was an argument in favour of such a move.
Her comments follow the resignation of Dominique Strauss-Kahn, who is in US detention on charges of sexual assault.

Ms Merkel did not name a preferred candidate but said it was important to act quickly in light of the problems afflicting the eurozone.

Germany is Europe's biggest economy and so Ms Merkel's voice carries considerable weight, say analysts.

But developing nations have said they want more of a voice in the IMF, one of the world's most important multilateral institutions.

Mr Strauss-Kahn had faced pressure to resign amid allegations he sexually assaulted a hotel maid in New York.

I am of the opinion that we should propose a European candidate. Of course currently there are talks about this, I will not name any names but we will discuss this within the European Union. It is of course of great importance that we find a quick solution.

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