Word: strausses
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...mired in internal scandal. Yet even as French President Nicolas Sarkozy got the backing of U.S. President George W. Bush Saturday to organize a summit to reform the international financial rules that the IMF oversees, the world discovered that the organization's French managing director, Dominique Strauss-Kahn, is being investigated for possible abuses of power. The findings of that inquiry - expected later this week - will not only shape the IMF's ability to navigate the world into a new, stable era of international trade, but they will also cast the fate of one of France's brightest political stars...
...Those high stakes explain why the scandal has drawn rapt attention in France, where Strauss-Kahn is considered one of the opposition Socialist Party's sharpest minds - and a leading contender for a 2012 presidential bid. For now, however, the besieged IMF chairman finds himself at the center of a storm stemming from an acknowledged extramarital affair with IMF subordinate Piroska Nagy, who oversaw the organization's African department until she resigned in August of this year...
...travel far. Emerging countries lacking the financial muscle to prop up their economies still face troubles ranging from slowing trade to food shortages. "In many developing countries, the most urgent crisis is not what is happening in financial markets but what has happened in commodity markets," says Dominique Strauss-Kahn, managing director for the International Monetary Fund (IMF). "We must not forget this other crisis...
...Molly M. Strauss ‘11, a Crimson editorial writer, lives in Winthrop House...
...Staff writer Paras D. Bhayani contributed to the reporting of this story. —Staff writer Nathan C. Strauss can be reached at strauss@fas.harvard...