Against the will of European Union, Russia has nominated former Czech central bank chief Josef Tosovsky to head the International Monetary Fund (IMF).
European Union has already formed a consensus on the name of former French finance Minister Dominique Strauss-Kahn, but the Russian nomination gave a new twist to the election.
Russian step is seen as more diplomatic, since Tosovksy is a highly respected figure internationally as compared to Dominique Strauss-Kahn. In terms of experience and qualifications Tosovsky surpasses Strauss-Kahn. He had a long experience as the governor of the Czech central bank, and also served as prime minister of the country in 1997, when the country faced a political crisis. He now works for the Bank of International Settlements in Basel, Switzerland, whereas EU nominee has very little after him to boost.
By conventions, US nominates World Bank’s head, whereas EU proposes its candidate for the IMF. EU is adamant to go with the Dominique Strauss-Kahn and US support virtually guarantees him over 50.0% of the vote. The Czech government will continue to support the EU candidate.
Although EU nominee has a clear chance to make to IMF, however Putin has made clear to the west that it is no longer content to accept Western dominance, including over the person who heads the IMF and the World Bank.
