Europe in the IMF
Europe’s leaders never tire of repeating the mantra that the major emerging-market countries are overturning the existing global economic order. But when it comes to recognizing reality nowadays and weakening their representation in the world’s international financial institutions, they adopt a different tune.
BRUSSELS – Europe’s leaders never tire of reminding their constituencies, almost like a mantra, that the major emerging-market countries are overturning the existing global economic order. But when it comes to recognizing that reality in the world’s international financial institutions, they adopt a different tune. This is particularly true of the eurozone.