Word: weser
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Dates: during 2000-2009
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...resign, and that's where politics comes in. Jürgen Stark is acting president, but insiders say if Welteke goes, Stark is unlikely to get his job. Stark was a senior aide to the previous conservative government. Finance Ministry officials are instead touting Deputy Finance Minister Caio Koch-Weser, a Social Democrat appointee responsible for global finance and currencies. But neither can check in unless Welteke checks out. - By William Boston Smuggle Struggle Ends Philip Morris International, makers of Marlboro, agreed to pay the E.U. $1 billion to head off legal action over the firm's alleged collusion with...
...since its inception after World War II, Europe has traditionally picked the IMF's leader (America got to choose the head of the World Bank). And on Monday, following months of lobbying, Schroeder convinced the 14 other European Union member nations to throw their support behind Caio Koch-Weser, a German technocrat who speaks five languages and has worked at the World Bank for a quarter of a century. But the Clinton administration wasted no time slapping down the E.U. choice, asserting that Koch-Weser is a lightweight who lacks the leadership skills to run an organization that acts...
...plate right now," says TIME Brussels bureau chief James Graff. "There are so many areas where the U.S. looks as though it's trying to assert unilateral power. It doesn't need another one." While Secretary of State Madeleine Albright has asked the E.U. not to take the Koch-Weser rebuke as an attempt to keep Fischer in power, it appears Schroeder will have to resign himself to the fact that the next IMF chief will not be a German. "There's always the chance with a situation like this," notes Graff, "that if they can't decide...