World Bank's Zoellick to step down in June [Hillary! possible replacement]

Reuters ^ | Wed Feb 15, 2012 2:42pm EST | Lesley Wroughton

[Hunton Peck]

World Bank President Robert Zoellick said on Wednesday he will step down in June, raising questions as to whether the United States will for the first time throw open the job it has always claimed as its own.

"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. Earlier, he had met with the World Bank's 25-member board to inform them of his decision.

Speculation has been rife in recent months over who might take the job when Zoellick departs. Possible U.S. candidates include Secretary of State Hillary Clinton and former White House economic adviser Larry Summers.

Zoellick, a Republican, would potentially be a strong candidate for a senior position if a Republican takes the White House in presidential elections in November.

While the Obama administration has said it supports an open and transparent selection process to fill lead positions in global institutions, it is unlikely to forfeit the top job at the World Bank in an election year, development experts said.

Emerging market and developing countries have campaigned hard in recent years to break Europe's grip on the International Monetary Fund and the United States's hold on the World Bank top positions.

Officials from large emerging economies like Brazil said on Wednesday the selection process for Zoellick's successor should be based on qualifications and not nationality. However, they acknowledged that given U.S. congressional pressure the job will probably remain in the hands of an American.

Last year, emerging market economies made an aggressive push to fill the IMF top job in a bitter contest won by France's Christine Lagarde.

"I do not know whether the president has spoken with Mr Zoellick and I don't have any information for you regarding possible successors," White...

[org.whodat]

Hillary has already said she was not leaving until after the election.

[Red Badger]

Tim Geithner........paging little Timmy......Call on line one.......

[Hunton Peck]

...and if you can't believe Hillary!, whom can you believe?

[DJ MacWoW]

We're also going to try to replace some of our older servers and failing equipment this year so we're going to add a little extra to our FReepathon goals. John is estimating ten to fifteen thousand to do this and I'd like to get it all in place and working before the election cycle is fully heated up, so we'll try to bring in a little more now if we can and the rest next quarter.
Jim Robinson

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[Talisker]

Hillary has already said she was not leaving until after the election.

Yeah, well, she also said she wouldn't leave her Senate position to run for President.

Question is, how much legal indemnification does the World Bank position carry with it?

Ole' Fingerprints always likes to have one foot out the door...

[org.whodat]

I think she has to stay until the end of the year to get her government retirement check, even she cannot make her marriage to bill count as retirement.

[MestaMachine]

Be very afraid.

[dandiegirl]

Don’t these people ever want to just retire and leave us alone. Their egos are just out of control. I’m so sick of the Clintons.

[Ann Archy]

i ALWAYS thought BILL would get that job.....but then it’s a JOB, and he’s LAZY!