HorstKohler, the president of European Bank for Reconstruction and Development, has emerged as the new European candidate to run the world's most important financial institution.
The disquiet that was expressed by IMF Managing Director HorstKohler about the euro, followed later in the week by co-ordinated action to prop up the currency, was a sign of the worries shared now by all countries - about the possible consequences of sharp changes in exchange rates for world growth.