Posted on 05/15/2011 5:41:53 PM PDT by DeaconBenjamin
The former French finance minister had been a key ally for the European Union as Greece, Ireland and Portugal sought billion pound bail-outs to pay their debts.
Europe's finance ministers will meet in Brussels Monday to hammer out the final details of a €78bn IMF-backed bail-out for Portugal and discuss further funding for Greece.
Mr Strauss-Kahn was due to brief German chancellor Angela Merkel on Sunday as well as attend meetings in Brussels.
Economists said his absence came at a sensitive time. Concerns grow that Greece will fail IMF-imposed targets to qualify for June's €3.3bn payment from last year's €110bn bail-out. Simon Ward, chief economist at fund manager Henderson, said: "I would think that the Portuguese bail-out is pretty much locked down, but the question of additional support for Greece remains. This will complicate negotiations and I would expect the markets to react negatively."
Mr Ward said Mr Strauss-Kahn, who has denied the sexual assault charges, had been "crucial" in securing US-backed funding of the rescue deals. "He steam-rollered any opposition to the European bail-outs and has been a crucial figure," said Mr Ward.
"A person a bit less supportive of the eurozone and we could potentially have already seen a default in one of those struggling economies."
Nouriel Roubini expected Mr Strauss-Kahn to back a rescheduling of interest payments on Greek debts rather than any further cash bail-out.
The IMF said it remained "fully functioning and operational" following the arrest of its chairman. John Lipsky, the IMF's first deputy managing director is its acting head. Mr Lipsky on Sunday held an emergency board meeting in Washington.
The IMF has come under pressure from the US Congress to be tougher on European debts. Mr Ward said the arrest could "open the door" to those wanting the IMF to rein in its lending.
(Excerpt) Read more at telegraph.co.uk ...
http://tinyurl.com/62o9roa — photo of the housekeeper he was messing with
LMAO ROFL
They seem to think that unproductive, slothful countries like Greece are going to magically transform and be able to pay for their socialist nightmare and all of these astronomical bailout loans.
Where do they expect that type of money and prodcution is to be derived from?
this is rich!
Well, then!
He’s much too important to throw in jail.
Turn the rapist loose.
Well then, I guess Frau Merkel will just have to tell #2banker Lipski tough kase, instead of #1banker StrausKahn.
This will make a great novel, complete with 007 and dozens of other secret services trying to set him up or protect him. If you really think about it he is a huge deal. For one he would have beaten Sarko, and two, he could have decided the future of EU.
The accuser needs Gloria Alred ASAP ;)
He’s a man with very powerful friends all over the world. Should be interesting to see how this shakes out.
Yep. And the Greeks deserve it!
Meanwhile, soon to be former #1banker (and leading socialist to replace Sarkozy) will provide welcome entertainment!
According to what I read, the housekeeper is an immigrant woman from Ghana and earns about $23,000 a year.
Won’t it be fun if a Chambermaid brings the French Lothario down.
Truly frightening the lack of character for such a high position.
In his part of the world chasing women is normal and an asset. Not rape of course, but being a womanizer is good for your career
A man in his position understands discretion. Maybe he “steam-rollered” the wrong people.
If this creep had done this in most any other country in the world he probably would have been able to escape. New York cops did a good job of tracking this guy down.
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