Consolidation of the EU Representation at the IMF
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.
Keywords
IMF, EU, voting power analysis, voting shares, reform of the governance of the IMF, consolidation of the EU representation at the IMF, Five President' Report
Author Biography
Petr Sedláček
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.