With Larry Summers' World Bank Bid in Trouble, Mexico Insists on Open Process
Robert Naiman @ Truthout - Early last week, The New York Times reported that despite all the previous fine rhetoric about the G20 and consultation and open process, the US Treasury Department had decided to rule by decree and impose its own candidate for the next president of the World Bank, the G20 be damned. US officials informed G20 officials that the US intended to "retain control of the bank," as the Times put it. According to the Times, the G20 countries grumbled, but showed no sign of being willing to fight the Treasury. The US candidate would be a "lock," the Times said, "since Europe will almost certainly support whomever Washington picks." Read more.