Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-05-24-Speech-4-198"

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". Mr President, 60 years after the implementation of the Bretton Woods system, something clearly has to change. Two years after Mr Wolfowitz’s arrival at the World Bank – and we all remember the conditions under which he was appointed and of which the previous speaker reminded us, whereby Mr Wolfowitz was obliged to come and explain himself to EU representatives meeting at Ecofin – it could be said that Europeans made the mistake of being right too early. Two years on, we find ourselves in a situation that has weakened not only the World Bank but also the entire international regulatory system, at a time when we really need it to be equal to its tasks. I would urge the EU – and this is the point of the resolution we are proposing – in future to meet its responsibilities in full and prove capable of proposing changes to the Bretton Woods system, in order to enhance the system of nominations, which currently ensures neither the legitimacy, transparency nor credibility of the person in charge of an institution as important as the World Bank. In this regard, the International Monetary Fund, for example, operates a system in which there is a degree of competition between the candidates and a certain amount of publicity, and this strikes me as a more acceptable system. In order to obtain something similar, we need to hold exhaustive negotiations with our US partners, covering all aspects of the issue. We made this point in the resolution we adopted last month and, with this in mind, we call on the current German and forthcoming Portuguese Presidencies to consider proposals that the EU might like to put on the table. For the appointment of Mr Wolfowitz’s successor, Europeans will hopefully have the opportunity to hold a hearing with the selected candidate, prior to that person’s confirmation. Lastly, we regret the fact that Mr Barroso acted as host to Mr Wolfowitz during the time when the latter’s post at the head of the World Bank was under review."@en1

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