Letter writers to the fore: Not Europe this time!

A veritable outpouring of letter writing about the IMF has been going on amongst financial, academic and elite circles. Hardly a day goes by when the letters page of the Financial Times and other papers doesn’t carry something on the IMF. And almost all say the same thing, ‘not so fast Europe’. Lets review some of them:

First up is to note the Times of India leading article which calls for a non-European to be in the job. “For over 60 years, Europe’s monopolised IMF’s stewardship while the US sits entrenched atop the Bank. This cosy arrangement was fine when the West’s clout was unchallenged. That’s no longer the case. More so, in the post-Lehman world where emerging economies have helped the West beat recession’s blues by driving growth, providing markets and offering investment havens. ”

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