IMF voting reform and soon the U.S. and Europe played the "war of words"

For the International Monetary Fund (IMF) reform, the U.S. and Europe are two traditional "substantial shareholder" is for each other eyeball to eyeball.

15 Financial Times reported that Germany has proposed that the United States should abandon its important decisions in the IMF's veto power, in exchange for the right to vote to accept the decline in Europe. Concessions the United States continues to put pressure on some of the EU voting seats.

Canada in June this year, G20 summit, attended by leaders called for countries to accelerate action in November of this year before the summit, Seoul, South Korea completed the first round of the IMF quota reform, helping emerging economies get more IMF voting rights.

Last month, the United States for the first time on the IMF Executive Committee of the existing distribution patterns of 24 seats cast a negative vote, and suggested that European economies no later than November 1 each for the Executive Board agreed to this reform, this is tantamount give part of the European countries in the seats requested.

IMF Executive Board is primarily responsible for the daily work of IMF, IMF to exercise the highest authority delegated all the powers of the Council. Currently, IMF's Executive Board is composed of 24 members, 5 of them by the IMF executive directors share of up to 5 members, namely the United States, Japan, Germany, France, Britain appointed the other 19 constituencies composed by the other members of the Selection generated.

At present, European countries in the IMF Executive Board shared with 9 seats. As Britain, France and Germany have fixed seats, to reduce the seats in Europe, it means that smaller European countries, such as the Nordic countries, the Netherlands and Belgium, to give up seats.

In order to defend the forces of Europe in the IMF, the European Central Bank President Jean-Claude Trichet had issued a public appeal, called on European countries to unite to defend Europe's IMF membership. EU finance ministers this month, 6 and 7 meeting, but also specifically for the IMF Executive Board to discuss the issue of seats.