The Great Debate UK

from Reuters Investigates:

Will the real DSK please stand up

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As Dominique Strauss-Kahn returned to court today for a bail hearing in the sexual assault case that has captivated world media, the big question remains -- who is the real DSK?

Brian Love in Paris and Reuters correspondents from around the world try to get to the bottom of this in the special report "The two faces of DSK."

Read the story in multimedia PDF format here.

from The Great Debate:

DSK saga is not just a French thing

By Maureen Tkacik

Whatever transpired in Suite 2806 of the Midtown Sofitel early Saturday afternoon, it seems clearer with each passing hour that being accused of sexual assault is far from a “Black Swan” event in the life of DSK. In 2007, the journalist Tristane Banon told a TV talk show host he had wrestled her to the ground and torn off her clothes during an interview a few years earlier; the talk show host in turn allowed that he knew “fourteen” separate women with similar tales. DSK’s name was eventually edited out of the broadcast for largely legal reasons, but it surfaced the next year when the IMF was forced to launch an investigation into his affair with a subordinate.

Indeed, on Monday the phrase "Who hasn't been groped by Dominique Strauss-Kahn?" gained wide currency, even though it was first uttered (albeit in French) years ago by the actress Danièle Evenou.

from Felix Salmon:

The IMF oddsmakers

The Economist has one list of William Hill odds for who's going to succeed Dominique Strauss-Kahn as managing director of the IMF; William Hill itself has a slightly different list. I would be much obliged if a reader in the UK would please pop down to William Hill for me and place a lot of money on Christine Lagarde at 20-1, as she's listed on the William Hill site, or even at 14-1, where the Economist has her.

Kemal Dervis is the clear favorite here. But I don't buy it: for one thing, the single most important issue facing the managing director of the IMF right now is Greece. And the bad blood between Greece and Turkey is so deep and so ingrained that I simply can't see how any Turk could be credibly impartial on the subject of Greece.

from Breakingviews:

IMF should use crisis to toughen itself up

By Martin Hutchinson
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

WASHINGTON -- The International Monetary Fund has a chance to toughen itself up. Under Dominique Strauss-Kahn, the managing director currently imprisoned in New York after being accused of sexual assault, the IMF's lending has multiplied, largely to basket cases like Greece. But recent loans have failed to force change while damaging other lenders' standing.

from Felix Salmon:

How will the new IMF head be chosen?

It takes Mohamed El-Erian until the very last paragraph of his FT op-ed to rule himself out of the running for managing director of the IMF: "I will not be part of this process," he says, adding that "I already have a great job, here in California."

But it's clear what process he wants:

It is therefore critical that, in the coming weeks, the IMF Executive Board finalise and publicise a process that would be used, should Mr. Strauss-Kahn be forced to resign. Specifically, the post of Managing Director should be open to all nationalities, with candidates assessed on the basis of transparent job qualifications.

from Felix Salmon:

Why DSK’s arrest is bad for the IMF, France, and Greece

With Dominique Strauss-Kahn being denied bail this morning, it's clear he can no longer run the IMF, let alone run for president of France. No matter how the trial turns out -- even if he's fully exonerated of all charges -- this arrest has effectively ended DSK's career.

So when Mohamed El-Erian writes about the effect of the arrest if DSK's career is over, we can take him as describing the state of the world as it is today: this news is bad for the IMF, bad for France, and bad for any Greek hopes of battling through without a debt restructuring.

from The Great Debate:

Strauss-Kahn allegations are consequential for the global economy

By Mohamed A. El-Erian
The opinions expressed are his own.

This weekend's detention of the IMF's chief on allegations of sexual assault has implications that go well beyond the impact on Dominique Strauss-Kahn's (or, as he is commonly known, DSK) international prestige. They could also impact the IMF, France, market uncertainty and the well-being of the global economy.

We must wait to make a full assessment until we know the outcome of ongoing police investigations into allegations that, according to his lawyer, DSK intends to “contest vigorously.” Having said that, some commentators are already taking the view that the IMF could lose its managing director, and that France could lose a leading candidate for next year's presidential elections.

from Felix Salmon:

Why Lagarde will be the next IMF managing director

It now seems more likely that Dominique Strauss-Kahn will end up in a prison cell than that he will be elected president of France. Either way, his career at the IMF is over, which means that the race to succeed him is on.

Gordon Brown would love the job, but he's not going to get it, which is great. The front-runner is Christine Lagarde, who would be better than Brown. But France has held the top job at the IMF for 26 of the past 33 years. It's time for a change, on that front.

from Chrystia Freeland:

Even the IMF now agrees it’s all about jobs, jobs, jobs

Regular readers of Chrystia's column will remember that she recently called out the IMF for failing to foresee the destabilizing effects of rising youth unemployment in Egypt. Specifically, in its April 2010 Article IV assessment of Egypt, the IMF concluded the country's economy was in fact more resistant to external shocks thanks to "sustained and wide-ranging reforms." Well, it turns out that the IMF has evolved in its thinking.  In an exclusive interview today with Chrystia and Reuters IMF correspondent Lesley Wroughton, IMF First Managing Director John Lipsky announced that going forward the Fund will more heavily weight unemployment risks in its annual country assessments.  "We think that these are very important issues and need to be looked at, and again, not just in cases where it might result in political turmoil but just as a matter of course in examining economic developments and policies," Lipsky said.

Watch the whole exchange here:

Posted by Peter Rudegeair.

Defining a post-crisis reputation for brand Ireland

– John Keilthy is Managing Partner of ReputationInc Ireland and is a former business journalist and director and chief operating officer of NCB Group.  Andrew Hammond is a Director in ReputationInc’s London office and was formerly a UK Government Special Adviser. The opinions expressed are their own. –

IRELAND/In recent weeks, the focus for Ireland and indeed the world’s financial markets has been on devising a plan to remedy the country’s precarious banking and fiscal affairs.

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