Stiglitz Warns of Violence if Wolfowitz Goes to World Bank

Stiglitz warns of violence if Wolfowitz goes to World Bank
By Robert Peston 

Joseph Stiglitz, the former chief economist of the World Bank and one of the world's most influential economic thinkers, has launched a savage attack on US plans to appoint Paul Wolfowitz as the World Bank's new president.

In an exclusive interview, the American Nobel laureate said: "The World Bank will once again become a hate figure. This could bring street protests and violence across the developing world." He described President Bush's determination to appoint his deputy defence secretary to the important post as "either an act of provocation or an act so insensitive as to look like provocation". Wolfowitz is widely regarded as the creator of the policy that led to the US war in Iraq.

The choice of Wolfowitz has also created a dilemma for Tony Blair and Gordon Brown. They fear he would stand in the way of their high-profile initiative to alleviate African debt and poverty. However, they are reluctant to spark a dispute with the White House by going public with their concerns. "This is a big problem for us," said an official close to the chancellor. "We are still working out what to do."

The presidency of the World Bank is in the gift of the White House, while the International Monetary Fund, its sister body, is normally run by a European. The Bank is the world's most important development institution. It is the main lender to poorer countries for a whole range of projects, including the fight against poverty and HIV/Aids.

http://www.money.telegraph.co.uk/money/main.jhtml?xml=/money/2005/03/20/cnwbank20.xml&menuId=242&sSheet=/money/2005/03/20/ixfrontcity.html

In his opinion, the world will be surprised by the good that will come out of it! WTF was he thinking?

He will say what he is told to say.

Don

The presence of our dozens of US military bases in Germany which are there supposedly to keep the Soviet Union from rolling in with their tanks(?) were still critical to Bush's war. Had Germany refused to allow the US to use these bases as a jumping off point to Iraq there is a chance Bush could not have gotten us into this mess. The German government is just as responsible for this shit as Bush is. Had they really been against the war they should have told us to pack up our shit up and head on down the road. But by them being an occupied country they could not have done that. I hope our German subjects don't mind too much? But even if they do mind thats just tough shit for them. And they thought they were free. It was only an illusion.

Don

Aren't there any alternatives?

This degree of blatancy means they are laughing at the world, not just us.

Why don't they ask him to find the missing billions from the DOD before they act arrogantly?

Why do Dems praise him?

Why does Bono take his calls?

Diplomacy worked for many years when our country had diplomats.
Dictators win now. No matter how despicable the ruling.

Are there no alternatives?

the decision is done by the board overseeing the world bank, of which the u.s. has 20% power, and I think, but I am not sure, the EU has around 10%, but it is proforma that whoever the U.S. names is getting elected. The European were/are talking about veto's but they essentially will go along as you can see by German chancellor Schroeder (very disappointing!).

www.worldbank.org

They need to know most Americans despise Wolfowitz and are in their corner in opposing him.