who will be next World Bank President What will they do


Exit this afternoon for Wolfie According to ABC News, World Bank officials say the bank's board is completing an "exit strategy" that will allow World Bank President Paul Wolfowitz to resign this afternoon and "still save some face" over the issue of his efforts to seek a promotion and pay raise for his girlfriend at the bank.

The report was filled in @ 12:42 but according to Reuters, the meeting was adjourned at that time at the request of the US ED.

Is it because WH has realized that " not all options are acceptable" and that they have to "throw in the towel" so that they do not appear to have the upper hand in this whole saga? the Board was requested to adjourn so that back-room discussions could happen and the WH could review its options

UPDATE:May 16 @ 15:30/17:45
According to WaPo ,the proposal from the WH was for the Board to reprimand the Prez for favoritism BUT NOT to give him the axe- in other words-just a slap on the wrist for being a naughty boy!
Well, unfortunately the US does not carry its weight these days and the Board whose members were offended by such a request decided to reject it.

The Guardian is saying to expect an announcement soon (currently 17:45 EST):
Mr Wolfowitz is deep in discussion with bank officials and members of the US administration, to broker a deal allowing him to step down before the bank's governing board passes a resolution condemning him for ethical violations and directly calling for him to step down.
An announcement on Mr Wolfowitz is likely to be published within the next few hours, sources suggest - although the wrangling over the terms of his departure could delay it. Mr Wolfowitz is demanding the bank publically accept some of the responsibility for the conflicts of interest that he was accused of by an internal investigation.

The Beaver ~ May 16, 2007

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