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-Agentur


COMMENT

blog comments powered by Disqus

Latest Headlines in Europe

Older Talkback

page: 1 

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

HowardMay 18th, 2007 - 15:16:04

Why does the world bank even exist?

Report this comment

page: 1 

Follow Us

Follow M&C on Pinterest

Search

Custom Search

Also Check Out

Charlize Theron wants to go into space

Charlize Theron wants to go into space
Charlize Theron has admitted she would love to go into space - but thinks it would be very expensive ... more

Cheryl Cole: Personal life is 'right'

Cheryl Cole: Personal life is right
Chderyl Cole wants to have lots of children but thinks she is right to wait to start a family. ... more

Peter Andre ready to move on

Peter Andre ready to move on
Peter Andre is finally ready to move on from ex-wife Katie Price and wonders if he has already met the person he is 'supposed' to marry. ... more

Prince William's tribute to role model Queen

Prince Williams tribute to role model Queen
Britain's Prince William has paid tribute to his grandmother Queen Elizabeth for being an 'incredible role model'. ... more

Mariah Carey's sister wants reconciliation

Mariah Careys sister wants reconciliation
Mariah Carey's estranged sister Alison is desperate to mend her rift with the singer and meet the star's twins Moroccan and Monroe for the first time. ... more

Robin Gibb had kidney failure

Robin Gibb had kidney failure
Robin Gibb's son RJ says the Bee Gees singer's death was caused by kidney and liver failure, ... more

Matthew Morrison's sexy meals

Matthew Morrisons sexy meals
Matthew Morrison thinks cooking is 'sexy' and loves sharing candlelit dinners with his girlfriend Renee Puente. ... more

Apl.de.Ap praises 'beautiful' Cheryl

Apl.de.Ap praises beautiful Cheryl
Black Eyed Peas star Apl.de.Ap thinks Cheryl Cole is a 'beautiful' woman. ... more

Queen Elizabeth loves to laugh with her grandkids

Queen Elizabeth loves to laugh with her grandkids
Britain's Queen Elizabeth loves to share a laugh with her grandchildren and find out about their lives outside of their royal duties. ... more

David Hasselhoff to buy bar for Hayley

David Hasselhoff to buy bar for Hayley
David Hasselhoff wants to buy his Welsh girlfriend Hayley Roberts a bar which he will call the Hoff & Hounds. ... more