Robert Zoellick
World Bank President Robert Zoellick announced on Wednesday he plans to step down when his term ends on June 30, raising raising questions whether the United States will insist on holding on to a job that has always gone to an American.
“I’m honored to have led such a world class institution with so many talented and exceptional people,” Zoellick said in a statement announcing his plans.
Speculation has been rife in recent months over who might take the job when Zoellick, who was appointed by President George W. Bush, departs. At the top of the list is Secretary of State Hillary Clinton. As previously reported, she was discussing the move to World Bank President with the White House last June. President Obama is in favor of the move. Clinton does not want another four years as America’s top ambassador, nor does she wish to challenge Obama for the American presidency.
She wants in: Hillary Clinton
However, a possible long-term strategy posits that Clinton runs for president in 2016, having built up an impressive CV as First Lady, Senator from New York, Secretary of State, and World Bank President.
If Clinton becomes World Bank President, she would be the first woman to do so. The International Monetary Fund was never run by a woman until Christine Legarde took the helm last year when Dominique Strauss-Khan resigned in disgrace over rape allegations.
A “gentleman’s agreement” between Europe and the United States that means a European always runs the IMF while an American always runs the World Bank, is being aggressively challenged by several emerging markets, including China.
Another possible U.S. candidate includes former Treasury Secretary and Director of the National Economic Council, Larry Summers. The Obama appointee has also held the post of chief economist of the World Bank and is president emeritus and the Charles W. Eliot Professor of Harvard University.
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