Friday, September 28, 2007

DSK Has Landed

I suppose I should mark the occasion of DSK's formal appointment to head the IMF, since I made such a fuss about it when the idea was first proposed. At the time it seemed to me a good move for DSK, who would escape the bare-knuckled brawl that the PS calls "renovation" while gaining sufficient stature abroad to return as the party's standard-bearer in 2012. I no longer believe this will happen. For one thing, DSK pledged to serve out a five-year term at IMF. I am not so naive as to believe that such pledges are engraved in stone, and in fact I suspect for a variety of reasons that DSK and IMF will tire of each other well before the time is up and come to an amicable parting of the ways. Today, though, it just seems implausible to me that DSK's road to the Elysée will pass by K Street. If the party is to revive, it's going to need a young warrior, not a tired economist/bureaucrat who has always allowed his eye to rove from the prize more than a présidentiable can afford to do.

He will in any case be busy in Washington, coping with the spreading, metamorphosing, metastasizing subprime fallout and the not unrelated announcement by China yesterday that it will be investing some $200 billion of its dollar reserves outside the United States. There's useful work to be done here, and it is to be hoped that DSK has his head in the game.

1 comment:

Anonymous said...

" for a variety of reasons DSK and IMF will tire of each other well before the time is up"

Among the various possible reasons, look out for DSK ( and Mrs...)lavish style of living.

If he does not realize soon enough that some of the bad habits of the French political personel are not acceptable in his new position, and that the US press is also much more inquisitive than its French counterpart, someday some nosy journalist will publish his expense accounts and that will be the end of DSK at IMF.

Remember Attali ( another Mitterand protégé )at the European investment Bank ?