Tuesday, May 01, 2007

Venezuela leads the rush to the exits

While World Bank leadership frets and fusses about whether it would be a good idea to remove a corrupt international war criminal from its leadership, Venezuela has taken the opportunity of the nadir of World Bank legitimacy to announce its withdrawal from both the World Bank and the IMF.  International criminal syndicates like the World Bank and the IMF exist solely on the basis of a very thin façade of legitimacy which inclines the victim states to assent to their victimhood.  If the World Bank doesn’t act fast, there may not be a World Bank. 

Wolfowitz has the problem that he can freely swan around the world now as the leader of an international institution.  As a mere civilian, almost every state in the world in which he were found would be obliged under international law to arrest and try him as one of the most wanted international war criminals.