Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-06-Speech-1-073-000"

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"Madam President, I believe there is, nonetheless, a great paradox in this debate. Basically, it is vital that nothing changes between the World Bank and the IMF. We Europeans are the ones who stand to gain from multilateralism working, but multilateralism will not work if emerging countries are involved only to a limited extent, at the G20 or elsewhere. We really must approach this issue dynamically and with a sense of perspective. Furthermore, I find it rather paradoxical that, now that we are launching an urgent campaign to see a European appointed as the head of the IMF, we are not setting an example as Europeans by saying, Commissioner, that this is a step in the direction of the external representation of the euro area. What explains your great impatience and determination to see a European appointed if not your desire to take this step, which you tell us is not urgent and can keep for another day? If we want to make a go of multilateralism, then we ourselves need to set an example, be consistent and show how well it can work in the future, because the IMF has an absolutely crucial role to play in the field of global governance, a role that transcends the issue of European debt and of the sovereign debt situations of the European countries that are struggling. This is a crucial task, but the IMF’s role, beyond stabilising the markets, is also to help correct the global imbalances that caused this crisis. It is clear today that you are not taking this absolutely crucial governance issue into account in the way in which you promote, or otherwise, a given candidate. Yet this is what interests us socialists: seeing the IMF play a part in global governance so as to correct the imbalances that caused this crisis."@en1
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