International Monetary Fund (IMF) Managing Director Dominique Strauss-Kahn holds a news conference after a meeting of G20 finance ministers and central bank governors in Paris February 19, 2011. (Xinhua/Reuters File Photo)
Dominique Strauss-Kahn, the head of the International Monetary Fund (IMF),
was arrested in New York City on accusations of sexually attacking a Manhattan
hotel maid, New York media reported on Saturday.
New York Post said that three Port Authority detectives pulled Strauss-Kahn from his plane’s first-class cabin at John F. Kennedy International Airport just two minutes before it was due to depart for Paris.
It was reported that Strauss-Kahn was turned over to New York City Police Department (NYPD) officers and the case is being investigated.
Dominique Strauss-Kahn, is the Chief Executive of the International Monetary Fund,(IMF) Strauss-Kahn was on a flight to Paris, and was taken off the plane by Port Authority of New York and New Jersey officers for questioning and the police are yet to give more details after he was turned over to New York detectives.
The newspaper said he was accused of an attack on a maid at a Times Square hotel on Saturday.
Dominic Strauss-Khan was applauded last April during a pre- World Bank meeting when he viewed that unemployment and a lack of equal growth had been major stumbling block to global economic recovery.
Dominique Strauss-Kahn, managing director of the International Monetary Fund, said only a change of approach towards fair wealth distribution can solve the world economic crisis.
“What we have learned over time is that unemployment and inequality can undermine the very achievements of the market economy, by sowing the seeds of instability,”
Strauss-Kahn spoke at the Brookings Institution ahead of the IMF and World Bank spring meeting that officially opens April 15.
Citing the recent situation in the Middle East and North Africa, Strauss-Kahn said that in too many countries, the lack of economic opportunity can lead to unproductive activities, political instability, and even conflict.
He noted that even though the global economy keeps recovering, “growth – at least in the advanced economies – is not creating jobs and is not being shared broadly.
Many people in many countries are facing a social crisis that is every bit as serious as the financial crisis.”
The latest data shows that the economic crisis threw 30 million people out of work.
More than 200 million people are looking for jobs around the world today.
The employment crisis is hitting the young especially hard. And what should have been a brief spell in unemployment is turning into a life sentence, possibly for a whole lost generation, Strauss-Kahn said.
Following are some key facts about Strauss-Kahn. Source Reuters — An architect of France’s economic recovery in the late 1990s, Strauss-Kahn, known as “DSK,” served in a Socialist government as finance minister between 1997 and 1999.
He cut the public deficit to qualify Francefor the euro and took steps that led to the privatization of some state firms.
— He was forced to resign from Socialist Prime Minister Lionel Jospin’s government in 1999 after he was caught up in a corruption scandal.
A court later cleared him.
— Strauss-Kahn lost out on the Socialist nomination for the French presidential election in 2006 but was surprisingly proposed as a candidate to run the International Monetary Fund by the eventual winner, Nicolas Sarkozy, a political rival.
— Since taking over the IMF, Strauss-Kahn has won praise for making sure the Fund was at the center of global efforts to cope with the financial meltdown of 2007-09 and introduced sweeping changes at the global institution to help countries in need.
He has also overseen changes that have given emerging market countries greater voting power in the institution.
— Strauss-Kahn is no stranger to controversy about his private and public life. He was investigated by the IMF in 2008 over possible abuse of power involving an affair with a senior IMF economist who subsequently left the fund.
The probe cleared him of abuse of power and he apologized publicly for “a serious error of judgment.”