Germany blasts departing World Bank head
Europe News
May 18, 2007, 5:15 GMT
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Oh no, an indignant diatribe from the cheap seats. Yes, Wolfie is a bonehead, but the German reaction is a bit over the top.
Actually, the German view is widely held among development specialists. The Bank is in the middle of a major fund-raising effort for the soft loan facility which finances most of the work in Africa, for example, while US contributions have been declining over the years. The EU and Japan are now the major contributors, not 'cheap seats,' and Wolfowitz has had little success in persuading them to keep giving. The real problem was that the US wants to maintain its unquestioned role as leader while coming up short in financing, and Wolfowitz was seen as a mouthpiece for the US administration rather than representing all the member countries.
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