The United States has 17% of the share capital and 100% of the power when it comes to appointing the new head of the World Bank. Not everyone is wild about this situation, as Alex Wilks recently reported for openDemocracy.
Take the FT. In an online poll of 30 March, 80% of Financial Times readers opposed the appointment of Paul Wolfowitz, the Bush administration's candidate (sample size 5711 at 9pm GMT).
Oh those wild and crazy senior accountants and chief financial officers!
Still, Wolfowitz is considered a shoo-in when the World Bank's Board of Executive Directors meets today in Washington. And to mark the event, "race fans" are holding a photo finish one horse race at 10am local time outside the Bank's HQ.
This will be re-creation of the process that led to Wolfowitz’s enthronement, says Soren Ambrose of New Voices on Globalization.
"Neigh-Sayers" deplore the small field, Ambrose adds. There will be NO BETTING. But just because there’s only one horse in the race doesn’t mean no one else wins. Consolation prizes go to several countries for being good sports and accepting Wolfowitz despite their distaste for the man.
