2024-03-09 01:59:05
Faced with the possibility of being accountable, in a short time, to a Turkish “pasha” for its loans and commitments to the troika, Greece is, after the latest events with Dominique Strauss-Kahn!
At the moment, the political and diplomatic poker for the new head of the International Monetary Fund is in full swing and, according to information from diplomatic sources, in the relevant consultations, the candidacy of the former Minister of Finance of Turkey, Kemal Dervis, has also been put on the “front line” .
Dervish’s name had also been heard in the past, when informal discussions about Strauss-Kahn’s successor began, under normal circumstances, in view of the end of his term and his descent into the French presidential elections. In the background, however, his case did not stand much chance, as he was not wanted by Turkish Prime Minister Tayyip Erdogan, with whom he maintains frosty relations.
However, according to the information, Mr. Erdogan is now changing his stance and, taking into account all the new data, he has given the green light for the candidacy of Dervis, who is also supported by powerful actors on the American side.
In addition to this important parameter, according to the same sources, the Turkish prime minister took two more factors into consideration. The first is that there is a growing tendency for the new strongman of the IMF to come from “emerging market” countries. And Turkey could not be absent from such a setting. This also explains the forced softening of Mr. Erdogan’s reservations about Mr. Dervis.
The second is that in such a case Ankara’s role is impressively upgraded at all levels: international, European and regional. This role, in terms of Turkey’s penetration into the old continent, becomes even more decisive, if it is taken into account that large rescue packages are being prepared in Western European countries.
However, the Turkish interest manifests itself at a time when America and Germany are in a state of undeclared war for the “control” of the IMF (and the World Bank). That is why and while the United States favors the scenario for a person from the “emerging markets”, Angela Merkel countered yesterday that “Europe has many reasons to keep the direction of the IMF”.
Dervis won the trust of America – and not only – as he was the Minister of Finance in the period 2000-2001 when Turkey had appealed to the IMF. Due to his so far bad relations with Erdogan, he was “exiled” to the USA where he heads the Brookings Institution think-tank in Washington. He has also been head of the UN development program.
From the emerging countries, the figures discussed are the head of the Central Bank of Mexico Agustin Carstens, the governor of the Central Bank of Israel Stanley Fischer, the former finance minister of South Africa Trevor Manuel and the official of the Indian government Montek Singh Ahluwalia. All have served at the IMF.
Phoebus Claudianos
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