PHOTO: Getty
Very interesting. Secretary of State Hillary Clinton and former White House economic adviser and Treasury Secretary Lawrence Summers are said to be the leading candidates to succeed World Bank President Robert Zoellick, who just announced his resignation. Clinton is the leading choice according to two Obama Administration sources, reports Bloomberg.
While Summers has expressed interest in the position and has supporters inside the administration, the position would be Clinton’s if she sought it, according to the people, who spoke on condition of anonymity about the private conversations.
Clinton, who said previously she doesn’t plan to remain in her post if President Barack Obama wins a second term, repeatedly has denied having an interest in the World Bank job. State Department spokesman Victoria Nuland repeated those denials today. "The secretary has addressed this issue many times since last year," Nuland said at a briefing in Washington. "She has said this is not happening. Her view has not changed."
Zoellick announced Wednesday that he would step down at the end of his five-year term on June 30. The Bank announced today it would select a new president by April 20.
Ever since the end of World War II, all 11 World Bank presidents have been Americans and each International Monetary Fund managing director has been European. There has been pressure from emerging markets to broaden the selection process after IMF Director Dominique Strauss-Kahn resigned suddenly last May amidst criminal charges.
The World Bank job would be a fantastic fit for Secretary Clinton. Not sure what Summers brings to the table. It didn't work out so well for him the first time around.
It will be interesting to see how this pans out.
Posted by: JBK! | 18 February 2012 at 01:24