Wolfowitz in face-saving exit talks

Bank 'finalising a deal' for him to leave where ethics board will share blame for scandal.

    Protestors and some World Bank employees
    have been calling for Wolfowitz to go [Reuters]
    Bennett said on Wednesday: "Mr Wolfowitz will not resign under this cloud and he will rather put this matter to a full [board] vote than to capitulate on his integrity."
    Salvaging credibility
    European members led by France, Germany and the Netherlands have said Wolfowitz should step down to salvage the bank's credibility, which they say has been damaged by his handling of a high-paying promotion for his girlfriend, Shaha Riza.
    Your Views

    "Wolfowitz must resign because... his act of favouritism for personal interest was wrong"

    Ibby, Mumbai, India

    Send us your views

    A board panel found his efforts on her behalf broke bank rules and represented a conflict of interest, but Wolfowitz says he acted on the advice of a board ethics committee and wants it to acknowledge its own failures.
    In a last ditch plea to save his job, Wolfowitz appeared before the board on Tuesday, saying: "You still have the opportunity to avoid long-term damage by resolving this matter in a fair and equitable way that recognises that we all tried to do the right thing, however imperfectly we went about it."
    A US request for an adjournment of the board meeting on Wednesday sparked speculation within the bank that its backing for Wolfowitz was softening.
    While Tony Snow, the White House spokesman, said "we stand by our support of Paul as the World Bank president", one source said discussions moved to how Wolfowitz might resign once the meeting resumed.
    However, the board later adjourned until Thursday without a decision.
    Under a contract he signed in June 2005 when he became World Bank president, Wolfowitz would receive a year's salary, or around $375,000, if his services were terminated by the board or if he resigned.
    Pressure to resign intensified on Wednesday as European countries signalled they would resist a bid by the Bush administration to keep Wolfowitz in the job.
    The US had tried to a cut a deal that would have separated consideration of his ethics violations from a decision over whether he had the credibility to continue, but only Japan out of the G7 countries sided with Washington.

    SOURCE: Agencies


    Interactive: Coding like a girl

    Interactive: Coding like a girl

    What obstacles do young women in technology have to overcome to achieve their dreams? Play this retro game to find out.

    Why America's Russia hysteria is dangerous

    Why America's Russia hysteria is dangerous

    The US exaggerating and obsessing about foreign threats seems quite similar to what is happening in Russia.

    Heron Gate mass eviction: 'We never expected this in Canada'

    Hundreds face mass eviction in Canada's capital

    About 150 homes in one of Ottawa's most diverse and affordable communities are expected to be torn down in coming months