Financial Times: 'DSK: a changing world'

Although the charges against Dominique Strauss-Kahn belong to the personal level,could have global economic repercussions. The arrest of the managing director of theIMF seems to be a better indicator of the relative decline in living Europe.

The IMF as an institution and had lost some of its European character.
During the financial crisis, the share of EU members in the vote fell by 2.8 percentage points. He was also planning to revise the assumption that the post of managing director Europe had to be provided, in force since 1946.
However, Dominique Strauss-Kahn did not contribute to increasing global nature of the IMF. In fact, the French led the institution to engage excessively in the rescue ofthe peripheral countries of the EU. Just resisted European strategy, according towhich defaults are controlled critical situations to be avoided at all costs.
The loss of European nature of the IMF was intended to proceed, albeit at acontrolled rate. The vote share of the EU, 29%, still above 20% which represents the EU in the global GDP, according to IMF calculations themselves. China is far behind,with 6% of the vote and a GDP of 14%.
The problems of Strauss-Kahn should accelerate changes in the institution. Unless it is free of charge in the coming days, the IMF will soon have a new leader can notignore the problems of Greece and Portugal, at least in the short term.
However, the new managing director, even Europe, will be part of a new post-crisis.That means more patience with undervalued exchange rates and capital controlsemregentes countries and less tolerance for the excessive borrowing of the richest.