This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/6664155.stm
The article has changed 3 times. There is an RSS feed of changes available.
Version 1 | Version 2 |
---|---|
New adjournment on Wolfowitz fate | New adjournment on Wolfowitz fate |
(40 minutes later) | |
The World Bank's board says it will resume on Thursday discussions on the fate of its President, Paul Wolfowitz. | The World Bank's board says it will resume on Thursday discussions on the fate of its President, Paul Wolfowitz. |
He has been at the centre of a scandal over alleged favouritism. His lawyer says the board will have to vote to sack him if it wants to get rid of him. | He has been at the centre of a scandal over alleged favouritism. His lawyer says the board will have to vote to sack him if it wants to get rid of him. |
"Mr Wolfowitz will not resign under this cloud," Robert Bennett told Reuters news agency. | "Mr Wolfowitz will not resign under this cloud," Robert Bennett told Reuters news agency. |
The statement followed unconfirmed reports that Mr Wolfowitz was trying to negotiate terms for his resignation. | The statement followed unconfirmed reports that Mr Wolfowitz was trying to negotiate terms for his resignation. |
It was reported that he wanted the board to agree to accept some of the blame for the scandal relating to his girlfriend's pay rise. | It was reported that he wanted the board to agree to accept some of the blame for the scandal relating to his girlfriend's pay rise. |
'Damage' | 'Damage' |
Earlier, White House spokesman Tony Snow said they had to "figure out a way forward to maintain the integrity of the institution" after the current scandal. | Earlier, White House spokesman Tony Snow said they had to "figure out a way forward to maintain the integrity of the institution" after the current scandal. |
The comments have been taken as a signal that the Bush administration's support for Mr Wolfowitz is waning - although Mr Snow insisted that "we have confidence in him". | The comments have been taken as a signal that the Bush administration's support for Mr Wolfowitz is waning - although Mr Snow insisted that "we have confidence in him". |
Q&A: Wolfowitz row | |
Mr Wolfowitz is under pressure to resign after the panel said he had broken the bank's code of conduct by helping to secure a pay rise for his partner, Shaha Riza. | Mr Wolfowitz is under pressure to resign after the panel said he had broken the bank's code of conduct by helping to secure a pay rise for his partner, Shaha Riza. |
On Tuesday he told the board that their decision would affect how the US and the world viewed the World Bank. | On Tuesday he told the board that their decision would affect how the US and the world viewed the World Bank. |
"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," Mr Wolfowitz said in a statement. | "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," Mr Wolfowitz said in a statement. |
But opposition to Mr Wolfowitz is mounting, especially in Europe. | But opposition to Mr Wolfowitz is mounting, especially in Europe. |
"He would do the bank and himself a great service if he resigned," according to the German Development Minister Heidemarie Wieczorek-Zeul. | "He would do the bank and himself a great service if he resigned," according to the German Development Minister Heidemarie Wieczorek-Zeul. |
She suggested he would not be welcome at the World Bank's forum on aid for Africa, which is due to start in Berlin on Monday. | She suggested he would not be welcome at the World Bank's forum on aid for Africa, which is due to start in Berlin on Monday. |
"I would not advise him [to take part] if he's still in office," she said. | "I would not advise him [to take part] if he's still in office," she said. |
'Opposition building' | 'Opposition building' |
On Monday, a panel of World Bank executives said Mr Wolfowitz provoked a "conflict of interest" at the bank by breaking its code of conduct and violating the terms of his contract. | On Monday, a panel of World Bank executives said Mr Wolfowitz provoked a "conflict of interest" at the bank by breaking its code of conduct and violating the terms of his contract. |
Mr Wolfowitz has faced calls for him to step down since details emerged about his role in securing a pay rise for his partner, Shaha Riza, who used to work at the bank. | Mr Wolfowitz has faced calls for him to step down since details emerged about his role in securing a pay rise for his partner, Shaha Riza, who used to work at the bank. |
Mr Snow told journalists at the White House that Mr Wolfowitz agreed "a lot of mistakes were made" in the process, but they were not a "firing offence". | Mr Snow told journalists at the White House that Mr Wolfowitz agreed "a lot of mistakes were made" in the process, but they were not a "firing offence". |
When Mr Wolfowitz was appointed president of the World Bank in 2005, Ms Riza was transferred to work for the US state department, to avoid any conflict of interest. | When Mr Wolfowitz was appointed president of the World Bank in 2005, Ms Riza was transferred to work for the US state department, to avoid any conflict of interest. |
But her salary rose quickly to about $193,000 (£98,000) - more than the $186,000 that Secretary of State Condoleezza Rice receives before tax. | But her salary rose quickly to about $193,000 (£98,000) - more than the $186,000 that Secretary of State Condoleezza Rice receives before tax. |
The World Bank has since been investigating the extent of Mr Wolfowitz's role in securing the pay increase. | The World Bank has since been investigating the extent of Mr Wolfowitz's role in securing the pay increase. |