Why the Next IMF Head Must Be European
The next head of the International Monetary Fund (IMF) will have two tasks. He or she will have to both help stabilize the European common currency and help pave the way for a transition from the Western to the multi-polar world, both institutionally and financially.
A European shouldn't be the one in charge, we hear from the echo chamber of the public opinion. The time is ripe for an Indian, a Brazilian or a South African at the helm of the IMF -- and it isn't just Indians, Brazilians and South Africans who are saying this. In fact, writing for SPIEGEL ONLINE, Thorsten Benner of the Berlin Global Public Policy Institute argues that the position of IMF managing director should no longer be a "European plaything."
It's true that Europe has to position itself differently in the bodies of global governance. They are creations of the postwar era, and as such the continent is overrepresented, including in the IMF. Europe's small and relatively small countries claim extensive speaking time for themselves in global circles.
The article in SpiegelOnline continues here.