Conley
02-15-2012, 08:46 PM
Robert B. Zoellick will step down as president of the World Bank when his five-year term expires on June 30, the Washington-based institution announced on Wednesday.
In an interview, Mr. Zoellick said that he had no immediate plans for his next career move. He said that he felt most proud of his work to modernize the bank, which focuses on fighting poverty and financing development in emerging countries.
When he first took office in 2007, “there were questions about whether people wanted to be engaged with the bank,” he said. “Now, we find that whether on regular development issues, postconflict states, or climate issues, there is a very strong interest in working with us.”
Mr. Zoellick’s departure seems likely to set off another clash between the advanced economies that traditionally appoint the leaders of the major international financial institutions and the emerging economies that tend to benefit from — and bear the consequences of — those institutions’ policies.
For the last seven decades, since the World Bank’s establishment, the United States has in practice appointed its leader, while Europe picks the head of the International Monetary Fund, the bank’s sister institution.
http://www.nytimes.com/2012/02/16/business/global/world-bank-president-to-step-down.html
It looks like Hillary may not get this job after all. Many other nations are looking to block the next appointment from being an American and open up the selection process. If that happens I wonder if Clinton might want to stay on as SoS. It must be tough on her to keep getting so close to being the president of something and then be suddenly knocked out of contention. :laugh: Ok, that was a bit harsh.
In an interview, Mr. Zoellick said that he had no immediate plans for his next career move. He said that he felt most proud of his work to modernize the bank, which focuses on fighting poverty and financing development in emerging countries.
When he first took office in 2007, “there were questions about whether people wanted to be engaged with the bank,” he said. “Now, we find that whether on regular development issues, postconflict states, or climate issues, there is a very strong interest in working with us.”
Mr. Zoellick’s departure seems likely to set off another clash between the advanced economies that traditionally appoint the leaders of the major international financial institutions and the emerging economies that tend to benefit from — and bear the consequences of — those institutions’ policies.
For the last seven decades, since the World Bank’s establishment, the United States has in practice appointed its leader, while Europe picks the head of the International Monetary Fund, the bank’s sister institution.
http://www.nytimes.com/2012/02/16/business/global/world-bank-president-to-step-down.html
It looks like Hillary may not get this job after all. Many other nations are looking to block the next appointment from being an American and open up the selection process. If that happens I wonder if Clinton might want to stay on as SoS. It must be tough on her to keep getting so close to being the president of something and then be suddenly knocked out of contention. :laugh: Ok, that was a bit harsh.