Sunday 25 March 2018

The fall and fall of an IMF high flier

ONCE Dominique Strauss-Kahn was arrested in New York and charged with attempted rape, other criminal sexual acts and unlawful imprisonment, two things became apparent.

He could not survive as managing director of the International Monetary Fund, and his chances of becoming President of France had evaporated. But there is a third point, of worldwide importance and of special concern in Ireland, in the common currency zone and in the EU as a whole.

Yesterday Mr Strauss-Kahn was due to meet Chancellor Angela Merkel of Germany and attend a meeting of the EU finance ministers. These facts alone give some indication of his role in the global financial system.

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