Europe News
Germany says Wolfowitz resignation "unavoidable" (Roundup)
May 18, 2007, 11:31 GMT
Berlin - The announcement that World Bank president Paul Wolfowitz will step down at the end of June was described by Germany's Development Minister Heidemarie Wieczorek-Zeul on Friday as 'unavoidable.'
The resignation paves the way for the bank to restore its credibility and capacity to act, said Wieczorek-Zeul, one of the governors of the bank.
The minister said the internal structures of the bank will have to be examined and the voting rights of the poorest African countries strengthened.
Wolfowitz said Thursday he would resign on June 30, ending weeks of bitter conflict at the aid lender over a pay raise he arranged for his girlfriend.
The US has the clear right to propose a new candidate for the post, a spokesman for the German government said in Berlin Friday.
Deputy government spokesman Thomas Steg said that the person proposed should be a 'convincing' one.
A spokesman for Wieczorek-Zeul said the selection process will have to be transparent and the candidate well qualified for the position.
Germany's representative on the bank's 24-member board, Eckhard Deutscher, said Thursday that Wolfowitz harmed the bank with a leadership style that destroyed his support.
'I regret that Paul Wolfowitz personally suffered damage, but I regret the damage he caused the bank much more,' he told reporters in Washington.
© 2007 dpa - Deutsche Presse-AgenturCOMMENT
blog comments powered by DisqusLatest Headlines in Europe
- 1. Pope in Easter message calls for peace and religious tolerance
- 2. Magnificent Messi leads Barcelona to ninth straight win
- 3. Pope leads Easter vigil, calls for "true enlightenment"
- 4. Barcelona increase pressure on Real with romp in Zaragoza
- 5. Pope Benedict XVI leads Easter Vigil

Beltway GregMay 18th, 2007 - 13:18:42
Monies wasted by the World Bank= Billions
Cost of a raise for your girlfriend $30,000
Getting rid of a boss you hate = priceless.
A cheap joke and I couldn't resist.
Congratulations World Bankers what took you so long to grow a spine? Now that the smoke has cleared where do we go from here for it seems that the bank has suffered almost as much as Wolfowitz? Can you imagine what would happen if Henry Paulson (Current Sec. of Treasury) and former head of Goldman Sachs were to become bank president? Oh my. Heads would roll and the indolent bureaucrats would find themselves in a World Bank of hurt.
Time to break out some more of those ribbons.
Beltway Greg
Report this comment