Wolfowitz's World Bank Nomination: A Pragmatic Shift in Europe

Strategic Insights -

As a prominent neoconservative architect of the Iraq invasion, Paul D. Wolfowitz arrived in Brussels on Wednesday to reshape his image as the world's banker for the poor. The five-hour visit to Brussels met with a request from the European Union for a meeting, aiming to prove Wolfowitz's ability to shift course and lead the global organization. During the visit, Wolfowitz assured that he will create a multinational team to run the bank and vowed to involve more European participation. The engagement strategy seems to be working, with European leaders signaling readiness to approve his nomination despite past reservations.

Key Takeaways:

  • The European Union holds 30 percent of the voting shares on the World Bank's board, but could have tried to take revenge for the unilateralism of the Bush administration by rejecting Wolfowitz or delaying his appointment.
  • Instead, leaders have signaled that they are ready to approve him when the nomination comes to a vote on Tuesday, indicating a new pragmatism in Europe to repair relations with the United States.
  • Wolfowitz vowed to create a multinational team to run the bank, without explicitly promising to appoint a European as his deputy.
  • The Europeans are seeking American support for their candidate to head the World Trade Organization: Pascal Lamy of France, who was Europe's trade commissioner.
  • Under World Bank tradition, the United States puts forward its own candidate to head the institution, while Europeans nominate the head of the International Monetary Fund.
  • Suspicion about Wolfowitz runs deep in Europe, with many politicians and news outlets expressing concerns about his nomination, citing his past actions as a neoconservative.

Statistics:

  • The World Bank has been in operation for 60 years.
  • The European Union holds 30 percent of the voting shares on the World Bank's board.
  • The Bush administration has agreed to support up to a point the European negotiations with Iran over its nuclear program.
  • The United States has left open the door for the militant Shiite group Hezbollah to enter Lebanese politics.

Sources:

  • The New York Times, "Wolfowitz's World Bank Nomination: A Pragmatic Shift in Europe", dated April 23, 2005.
  • Business Daily Handelsblatt, "Bush did not give a damn about the reaction", no date mentioned.
  • Le Monde, "A new manifestation of America's arrogance", dated April 2005.
  • Liberation, "Europe must veto the nomination", no date mentioned.
  • Il Sole 24 Ore, "It will not be easy to 'sell' the World Bank as an institution that takes care of the poor in the world", no date mentioned.