Brussels, 28/09/2012 (Agence Europe) - Emerging economies have an important role to play in economic growth and this should be accepted by advanced countries, particularly in Europe, which must recognise that their own role has become less important than it was and emerging economies now have greater influence, said former IMF director Dominque Strauss-Kahn in an interview with Moroccan magazine L'Economiste.
Invited to speak at a conference in Marrakesh on 21 September on governance and emerging economies, Dominique Strauss Kahn said that we should not talk about emerging countries, but emerging economic policies.
The former IMF director pointed out that institutions were important if one wanted to have a global role. He said that emerging economies had taken a much bigger role over recent years and how they are represented in global governance bodies like the IMF and the World Bank needs to change. Strauss Kahn said that the travails facing the world economy are mainly due to a problem of governance and the Greek crisis, for example, has spread due to the failure to take decisions. For political reasons, Europeans have not been capable of dealing with such a small problem. (FB/transl.fl)