Consolidation of the EU Representation at the IMF

  • Petr Sedláček
Keywords: IMF, EU, voting power analysis, voting shares, reform of the governance of the IMF, consolidation of the EU representantion at the IMF, Five Presidents’ Report

Abstract

Following the Five Presidents’ Report in October 2015, the European Commission set up the objective to move to a single euro-area chair at the IMF. The article focuses on assessing the effectiveness of this objective. In this context it assesses the IMF governance and the current development of the coordinaton of the EU Member States. Then the article carries out a voting power analysis of the euro-area constituency in several alternative scenarios. The article concludes that a more effective option would be to spread the euro-area member states into several constituencies rather than keeping them all in one constituency.

Author Biography

Petr Sedláček
born in 1950, he studied at the Prague University of Economics, where he defended his doctorate thesis and obtained a PhD in 2001. At the CNB he was responsible for matters related to the IMF. Since 2003 he served as an alternate of the representative of the CNB in the SCIMF. He also participated in the expert group of the IRC ECB. During the Presidency of the CR in the EU he represented the CR in the G20 Sub-Committee for International Financial Architecture and the IMF. He published the book International Monetary Fund in the 21st Century in 2008 and was a co-author of the book The Euro in the CR from the Economists’ Point of View. He published many articles in the CR and abroad regarding the IMF and the internationl monetary architecture. He lectured at the Prague University of Economics, and as a consultant he supervised the work of many PhD students at the University of Finance and Management.
Section
Research Articles