yes. >> the new imf must be chosen on merit. if yi look at the cancers all of them could be chosen on merit, on they? there's no obvious political appointment in there, is there? >> i think that's right. the end of this process, everyone will insist the nationality play nod part and christine lagarde will get the job. they'll say she got it because she was the best person of the job and her frenchness was incidental. >> they've been saying you have to have a european to lead the imf, particularly at the moment, because there's a euro debt crisis going on, it's a politically sensitive topic. does that hold water, that ar e argume argument? this is going to be focusing the imf for quite some time to come. the euro crisis will be the defining problem of the next term. it cuts both ways. i think you need someone with stature and political clout. you can sit down with european finance ministers at the ecb and make suggestions or hurry things along. however, a european may be too closely identified with the failed strategies we've alr

>> strauss-kahn was a brilliant manager of the imf and -- >> he saved the imf. >> trying to save the european banking system. >> can he save himself? >> no, i think he's got a few problems. >> what makes you think that? >> well, since i'm involved with a tabloid newspaper, i've concluded he has a few problems john. i don't want to go into this because yours is a family show. but his as we shall say personal live is going to dominate. >> it's more like a map of your family. . >> i wouldn't call it that. >> don't outlie? >> no -- >> who's the -- >> the question is, people who are doing -- >> you are, but because of strauss-kahn's really poor and gross behavior, the imf, everybody's now taking cheap shots at the imf. but they've been doing a very good job in injury and the europeans are overrepresented on the board and that will -- and the greeks are cheering at strauss-kahn's downfall because he really put together a package that's making them very unhappy. >> exit question, given the global economic meltdown, we just experienced, can you u mak the case that the imf is ineffective and

at the imf and american running the world bank?uld we get out of that practice? >> look, once again, if they are doing good jobs, why should we replace? they're doing a good job in the world bank. we have the problem in the leadership with the imf. let's find another one, a leader for that. >> should be a european is what you're suggesting. >> yes, i think it should be a european. europeans together by far, they are the biggest stake holder in the imf and there are a lot of europeans that can do that job. why now choose someone because he's not european? that makes no sense. i think there will be good candidates from europe. let's not make now an issue of flag, about this, what is important that we have a strong, credible candidate and i think we can present that candidate. >> once again, the president of the european commission there. this is the next phase opening up now. face-to-face diplomacy and phone diplomacy, the president of the commission had a bilateral with angela merkel over the weekend. president obama will be meeting

>> strauss-kahn was a brilliant manager of the imf and -- >> he saved the imf. >> trying to save the european banking system. >> can he save himself? >> no, i think he's got a few problems. >> what makes you think that? >> well, since i'm involved with a tabloid newspaper, i've concluded he has a few problems john. i don't want to go into this because yours is a family show. but his as we shall say personal live is going to dominate. >> it's more like a map of your family. >> i wouldn't call it that. >> don't outlie? >> no -- >> who's the -- >> the question is, people who are doing -- >> you are, but because of strauss-kahn's really poor and gross behavior, the imf, everybody's now taking cheap shots at the imf. but they've been doing a very good job in injury and the europeans are overrepresented on the board and that will -- and the greeks are cheering at strauss-kahn's downfall because he really put together a package that's making them very unhappy. >> exit question, given the global economic meltdown, we just experienced, can you make the case that the imf is ineffective and unn

as far as the imf is concerned, it has to be humiliating.word was used before describing the way that chance is. a couple of the politicians here said all of this is very humiliating for chance because it damages the image of the country. andrew? >> jim, thank you so much. jim bitterman joins us live from paris. nina, this story is rattling through the currency markets. what about the equity markets in europe? >> we'll come to the currency in a second. here's the picture, about 90 minutes into the trading session today. you can see, some of the indices really, really falling quite a bit. and look at that. france, down by 1%. what's going on, we have 19 stocks or auto stocks driving some of the early morning losses. we've also we've also got a couple of stories in the mix. we also have the likes of the london stock exchange actually rising. and that's helping to counter some of the losses on the ftse 100. that stock's living after a rival bid for the toronto market, tnx. perhaps, it may back out of that particular transaction. let's talk abou

stepping down to protect the imf. lawyers head back to court in just a few hours in a fresh appeal for him to be released from prison on bail. the u.s. is set to offer economic aid to egypt and tunisia. president barack obama is expected to make the pledge in a policy speech on the middle east, touching on uprises across the region. mr. obama hopes to help egypt and tunisia develop through political and economic reforms. >>> a nation rose up and a government fell. more than 800 people lost their lives in the protests that topple hosni mubarak's regime. among the recommendations to egyptian authorities, a full inquiry should be conducted into past violations and guilty parties brought to justice. victims of mistreatment should receive compensation and a formal apology should come from the highest levels of government. for more on that report and what it means for egypt's future, i'm joined via skype by amnesty egypt's researcher. in light of what we are expecting to hear from the president barack obama about his speech

imf staff assigned outside the u.s. do get housing allowances.ike strass-kahn who aren't american and work at the washington headquarters get other benefits. >> they get allowances for keeping their kids in school. they get health care. they get generous vacations. >> reporter: it is also in strass-kahn's contract that he and anyone in his family fly first class whenever he is on official business. i asked john sewell, monitored global banks for 40-plus years about strass-kahn's take home. you don't have a problem with the salary? >> i don't have a problem with the salary. this is one of the world's most important jobs. it is reflected by the fact that strass-kahn played an absolutely essential role in dealing with the global financial crisis that we hopefully are moving out of. >> john sewell also credits strass-kahn with drastically reforming the imf and making it relevant again after a period when few countries wanted to borrow money from it. suel and other analysts point out strass-kahn's salary is nothing compared to major wall street banker

he spent 15 years at the imf himself.in the cards, kemal dervis, the former head of the international development program. he spent 22 years at the world bank. also, this man is from mexico, agustin carstens. he's a former finance minister and highly respected. and montek-singh ahluwalia. he's a member of the influential washington advisory board, the group of 30. he served the finance and economy ministries in india. one of the early candidates or favorites for the job is gordon brown, chancellor for ten years under tony blair. he often says he wants the top job but does lack the backing of the current prime minister, david cameron. one of the favorites is this lady, christine lagarde. she's from the same country as strauss-kahn himself. as you were saying, andrew, france has often giveren the imf a number of managing directors. she's also the first female to hold various positions. first female to be the finance minister for a g8 nation. she's also renowned lawyer, spent many years in the united states. she was the form

the 50-year-old lawyer is the favorite to take the head of the imf. she is lauded for the handling of the global financial crisis. jean-claude tree should has also been tapped as a potential candidate -- jean-claude trichet has also been tapped as a potential candidates. the world developing economies also want a shot at the top job. but german chancellor angela merkel says a european would be best for now. >> in the current situation in which we are experiencing significant problems with the euro, in which the imf is very much involved, there is certainly an argument for proposing a european candidates and campaign for that candidate in the international community. >> but it will not be easy- going. emerging economies like china say it is time for them to play a bigger role on the international stage. >> we have always believed to the imf should continue to reform its structure and choose its senior leadership based on fairness, transparency, and merit. and we believe that emerging and developing countries should be represented at senior levels. >> t

the immunity belong to the imf.believes the benefit of that immunity because the imf allows him to focus on the investigation but ultimately it's the imf's decision whether or not they want to maintain it or. >> or waive it? >> or waive it. >> that case, it may not be. what you don't hear as what you do hear? so they could come out and make a flat statement, we've investigated it, there's no way there's diplomatic immunity here? >> there's certainly precedent when you have these salacious allegations or heinous crime. >> like that one in washington. >> over a decade ago, you had a georgian diplomat driving intoxicated at 80 miles an hour. and he ends up killing i think a young foreign exchange student. he received immunity, and immunized but ultimately delicate communications occurred between the u.s. and georgian officials. they waive the immunity, he is prosecuted and convicted for the crime. >> there are times, of course, the reason why we are part of it, the diplomatic immunity works in our way in pakistan. the

so what's the root to the top job at the imf? they've asked for a fair and open process, but, of course, with so much power held in europe and the united states, it's considered. people must convince a member of the imf executive board to actually nominate them. the first point, of course, is a compatriot, so somebody from their own country to give them their support. too bad in the case of gordon brown that the prime minister has already written off that possibility. they must then meet with the executive board in washington. that's officially a secret process, wu the movements of certain individuals must be closely monitored during this time. and then, of course, there's the selection process. that's down to the board. there are 24 members and a majority vote decides who the next boss of the imm will be with nine hailing from europe and two more representing european interests. of course, a lot of people are saying it will take quite a team effort by the rest for europe to release its grip on the top job there. >> a lot of peop

christine lagarde has confirmed she intends to run for head of the imf. she has been encouraged by support from a number of countries. some emerging economies have complained the job should not automatically go to european this time around. she's expected face competition from attack -- from mexico's central bank chief. for moron this, i spoke with our correspondent and paris, asking first for the french response to the bid to lead the imf from lagarde. >> she has the full support of both president nicolas sarkozy and the prime minister. she is by far the most popular minister in their government, nothing short of a financial rocks starke according to an imf insider today. the opposition socialist party has also largely swung into position behind her candidacy. having lost their own man an unfortunate circumstances, you might have expected some gripes about his possible replacement, but the fact there are only a few rumblings of dissent is proof of lagarde's image as a consensus builder and extremely talented candidate who could if chosen go a very long w

ahead of the imf, come nike straus-khan. however, as the hours went on and on, he did not appear in court. there was no explanation why. finally, during the middle of the night, the lawyers representing him came outside and talked with reporters and explained that he was agreeing to an examination of his body, looking for any dna evidence that might have been left behind or any scratches on his body. here is what the lawyer said. >> our client consented to an examination tonight at the request of the government. that's being done in light of the hour we've agreed to postpone the arraignment tomorrow morning and we expect to be in court with him tomorrow. >> cnn has learn from a law enforcement source with direct knowledge of the investigation that the alleged victim was able to pick straus-khan out of a lineup at the police station, chose him as the person who allegedly attacked her. cnn knows very little about the victim because the police haven't said much. however, the general manager where she worked said that she worked

the imf... what strauss-kahn did was had a strategy and a grand mission on making the imf a central player in the world financial markets and making the imf a much bigger institution. he did both. he very skillfully strategized, brought the big countries together especially the g-20 economies which includes the u.s., the u.k. and the major emerging market economies. the imf today is a $1 trillion institution. when he took it over it was $250 billion. the imf is at the center of all economic policy debates. so the imf is very important. and as the man at the top, he set the tone for the imf. strauss-kahn plays a very important role. >> ifill: is it fair to say he was central to these euro zone bailouts we've been following for the past several years including in greece and in ireland and in portugal? >> much of the work on bailouts and the technical work was really done by the professional staff. that work will happen irrespective of what happens at the leadership but the leadership sets the tone

the imf chief is under pressure to resign as he sits in the new york jail on the sec's charges. >> and after agreeing a bailout from portugal, finance ministers turn the focus to greece. ♪ >> queen elizabeth is on a landmark visit to ireland, the first by a british monarch in 100 years and the first since ireland gained independence from britain. in a highly symbolic gesture, the queen laid a wreath at a memorial for ish freedom fighters. the four-day tour underscores the progress made in relations between the two countries after their long and troubled history. >> the british monarch in ireland's national color, emerald green. the symbolic shade for a symbolic visit. queen elizabeth was greeted by the irish president hit of the trip illustrates the shift in anglo-irish relations made possible through the northern ireland peace process. during a visit to the presidential residence, the queen was also introduced to the irish prime minister. a short time later came the moment that many in ireland were waiting for, the monarchs visited the garden of remembrance, a memorial to the irish wh

why don't you take over the imf? >> i was actually -- i was -- i was in charge of the selection possibles when i was chairman of the imf committee in the early 2000. this is a long prolonged selection process being -- it is being -- administered, if you like into a few days. you know, the whole of the world has to be consulted. you can't have one country without listening to another country and another country. you will get in the next few weeks views from india and china and africa and from -- >> if you were offered the job would you take it? >> i don't think it comes to that to be honest. i'm not interested in running a campaign for a job. i'm more interested in saying what the proper agenda is for the future. you know, i was -- offered the job on -- one occasion previously. i think the issue for me is -- how you can get the world to work together. this candidate, whoever does it, has to be able to bring consensus of the world together. i think that's going to be very important. >> when we come back we will talk ab

she says the fact that he's being detained without bail could damage the imf. but others were refusing to speculate on strauss-kahn's guilt. any successor must be drawn from european ranks. this man thinks the u.s. has quite enough influence within the imf. >> i don't want to say nothing about the candidates. i repeat. i want to say something about the necessity for europe to maybe keep this position. >> it's not just the u.s. challenging europe's dominance of the imf. economists also want more of a say. china is calling for fairness, transparency of the funds' next managing director. >> it certainly does. all of the speculation will be on dsk as he spends another night in his cell at new york's rai rikers island jail. let's take a look at the counts by the u.s. county district attorney's offer. the most serious charges are two counts of criminal sexual acts in the first degree. they eefrp carry a maximum sentence of 25 years in prison. then there's also one count of attempted rape in the first degree with a maximum sentence of 15 years. meaning up to seven yea

the head the imf, for him there's no bail for dominique strauss-kahn. one of the world's top bankers is behind bars on sex assault charges. >>> targeting tripoli, the area near moammar gadhafi's compound is hit again. in another night of nato air strikes. >>> and thousands of flooded homes, thousands of people evacuated as the mississippi river levels continue to rise. >>> we begin this hour in ireland where authorities say they have intercepted and defused a bomb on a bus headed for dublin, just hours before an historic visit to the capital by britain's queen elizabeth. irish police tell cnn the military found an explosive device not far from dublin late monday after someone phoned in a warning. police are now working to find out who placed it on the bus. a few hours ago officials say they got another call warning about a second device. when they checked it out, it turned out to be a hoax. well, the british government says the queen's visit to ireland will go ahead as planned. cnn's finnuala sweeney joins us. >> reporter: the queen is expected to be he

the imf informed staff it want 30z% of senior positions to go to women bit year 2014.dos santos, cnn, london. >> nina has been following closely how the strauss-kahn scandal, if it is, i suppose we have to say it's an alleged scandal. it's been affecting the international monetary fund. more details on the imf and the strauss-kahn case, check out nina's blog at our cnn website, that and lots and lots and lots more at cnn.com. andrew? >>> charles, one person who is standing firmly behind dominique strauss-kahn is his wife, the american ann sinclair. reports say she's using her family's fortune to try to clear his name. when he was release from rikers island last friday, it was sinclair who posted her husband's $5 million insurance bond. reports say she's temporarily rented a $4,400 a month apartment near wall street and will pay for strauss-kahn's expensive round the clock security. charles? >>> just ahead on "world business today," we'll show you how the markets are responding after monday's global sell-off and more. >>> and new information implicates air france's pilo

a weak imf. >> absolutely. often, particularly in u.n. appointments and things, you have seen compromise candidates or indeed in europe, compromise candidates who have been weak leaders. >> lehrer: okay, zanny and sara, thank you both very much. >> thank you. >> brown: still to come on the "newshour": the president's middle east policy address; the investigation into the west virginia mine disaster and a long distance conversation from space. but first, the other news of the day. here's hari sreenivasan. >> sreenivasan: al-qaeda released a new audio recording of osama bin laden today praising the revolts in the arab world. the 12-minute message was recorded shortly before bin laden's death and was posted on militant web sites. in the message, bin laden urged muslims everywhere to join the uprisings. >> ( translated ): i think that the winds of change will blow over the entire muslim world, with permission from allah. so, what are you waiting for? save yourselves and your children, because the opportunity is her

who takes over the imf?he imf has always gone to the europeans, the world bank has always gone to the americans. now the argument goes it should all be up for grabs. and this is largely the reason. the decision over who will take over will be voted upon by the michigan f members. the united states has 16%. japan is 6% of the fund. germany, france, china, and the uk all have smaller but significant amounts of imf voting power except the europeans say they should still have managing directorship of the imf for within simple reason. because ignore them individually. instead think of the eu as a global block. and then eu suddenly has 29% of the imf voting shares. the u.s., 16%, asia, 16%. little africa, which comes in at just 5%. when you put it like that, european union can clearly outvote almost everybody else. but it won't be enough just do it on their own. the europeans really do need to rope in others for political acceptance and expediency. you'll have the europeans with 30-odd percent. they'll bring in ho

. >> could the imf be headed for a change at the top? with dominique strauss-kahn sitting in prison, the talk of a successor is heating up. and passing the torch -- as the olympic flame is free to head back to britain, those who ran with more than 60 years ago still remember every stride. >> welcome to our viewers on pbs in america and around the globe. queen elizabeth made history when her plane touched down on irish soil. it's the first time a british monarch has visited since the country went independent 90 years ago. her arrival marks a new chapter in relations between the two nations. the queen's arrival comes with security alerts and the discovery of a bomb on a bus bound for dublin. >> it's just an hour's flying time from london and yet this particular flight has taken decades to get here. in the 60th year of her reign and wearing a coat of emerald green, queen elizabeth of britain was finally able to step on the soil of britain's nearest neighbor, ireland. it looked as so many other state visits have looked with the honor guard a

the imf directors off of those five countries had this to say. the convention that the selection of the managing director is made in practice on about the basis of nationality undermines the legitimacy of the fund. we are concerned with public statements, that the position of managing director should continue to be occupied by a european. they're called for a, quote, truly comparative base. there are two european candidates who have thrown their hats into the ring. you're looking here at agust agustin carstens. along with him is grigor grigory marchenko. also the european heavyweights and officials. we have these two nominees. they say expect more to come out of the emerging economies. >> you know what's really interesting, andrew, is i've been speaking to people inside the imf myself, and irrespective of whether they come from a euro zone country or otherwise, there seems to be inside the doors of the imf quite a call for that. we'll have to see that. >>> we have more to tell yog u after the break. more airport closures, more stranded passengers

where should the next leader of the imf come from? >> as important as who and where is the process of selecting that leader. in the past or since the imf was created in the mid-1940's, late 1940's, there has been a rule that the head of the imf was always going to be a european. right there, that discriminates against a large number of the rest of humanity. that because of their passports and their nationality, they cannot be considered. that rule was under pressure even before this happened. as the emerging markets, the new countries acquire a larger, more important role, they demand a different way of selecting, a process that is more transparent and is fair. and let the best person be chosen. >> what are the merits of the case? you wrote recently about the shifting economic fortunes of the world. fact that since 2000, developing countries have grown by 6%, where is developed countries have only grown by less than 2%. is that really what you're pointing out, that there is an economic disparity, or that industrialized countries have

>> in the past, since the imf was created, there has been a rule that the head of the imf was always going to be a european. right there, that discriminates against a large number of the rest of humanity. because of the passports, they cannot be considered. that will was under pressure even before this happened. as the emerging markets acquire a larger, more important role, they demand a different way of selecting a process that is more transparent and fair. what's the best person be chosen. >> what are the merits of the case? since 2000, developing countries have grown by 6%. developed countries have only grown by less than 2%. if that really what you are pointing at? >> just sheer numbers, but there is also the moral authority. these are the countries -- a lot of these emerging countries used to be lectured by washington and europe about what they ought to be doing with their economy. now those lecturers are dealing with crashes and emergencies and all sorts of mismanagement and their own economy. how is it that the people that are at the center of the crashes and the economic cris

it is a remarkable turnaround from the former head of the imf.t sunday he was a possible candidate for french president. now charged with the attempted rape of a hotel maid, he has resigned with his position as head of the imf and faces a long trial. he got news his defense team was hoping for. >> i will grant a bail under the following conditions. the first of all after he posts the $1 million bail, he must also post the the an insurance company bond in the amount of $5 million. >> that meant he could spend some time with his family. there was a problem. he would not be residing in the upper east side manhattan apartment that his wife had rented. tenants complained about the media circles outside. instead, he must be housed by a security firm barred him. his attorney pleaded to some degree of privacy. >> members of the press want to invade the private residence and interview with this ferlies privacy. i am asking all of you to respect this family is privacy. >> the 62-year-old french politician denies the charges against him. meanwhile, he has l

prosecutors are arguing against bail for the head of the imf. they're arguing against bail. he is facing sexual assault charges. they are saying that during the arraignment they believe that strauss-khan has engaged in similar acts, at least once, and so they are rejecting the idea -- the notion of bail. the defense attorneys for strauss-khan, however, say they will agree to bail of $1 million. that's the latest development out of this case that we are following very closely. we'll have a quick break, get right back to you. [ male announcer ] montgomery and abigail haggins had a tree that bore the most rare and magical fruit, which provided for their every financial need. [ thunder rumbling ] [ thunder crashing ] and then, in one blinding blink of an eye, their tree had given its last. but with their raymond james financial advisor, they had prepared for even the unthinkable. ♪ and they danced. see what a raymond james advisor can do for you. ♪ let's see you fly now! [ laughs ] look, more frequent flyer red tape. not on my watch. let that family

the charges against the imf head remained unproven. there was a sense of planning and future without him. >> for more on how this story is going to die, christopher is story ishristopher- -- going to night, christopher is with us. >> this is a thunderbolt. this is something that has struck out of the sky and devastated french politics. >> when we say he was a front line presidential contender, could he have one bank the presidency of france? >> everybody expected that he would. you have to understand how incredibly on popular president nicolas sarkozy is here. his approval ratings are below 30%. if he was not able to recoup 20 points on that in the next year, there is no reason to believe he could, it was going to be a walkover for strauss-kahn. he was going to probably win in the first round and the second round. all of the polls show that and there is every reason to expect that to happen. now there is every reason to expect that his presidential ambitions are completely finished. >> the french are tolerant of the sexual peccadilloes

the imf will designate an interim head.his comes as more details about the 32-year-old that he is alleged -- the 32-year-old hotel maid that he is alleged to have assaulted sexually. her lawyer say she is traumatized. >> there is no way this event could be construed as consensual in any manner. this is nothing other than a physical sexual assault by this man on this young woman. >> i asked about the latest information about the case. and mcvet is right, a 32-year- old west african immigrant living in the bronx with -- >> that is right, a 32-year-old west african immigrant living in the bronx with her daughter. i asked someone who knew her about it and he said her life had been turned upside down. he said there would be no way she would not be telling the truth because her story is consistent. he also commented on the fact that his client did not even know who domenick stress, and was -- domenick -- dominique strauss-kahn was before the alleged attack. >> have we heard from the imf, an official word from them yet? >> they ar

treasury officials say he is not workable of running the imf. the wife of closing the park is not released from custody after handing over $4 million in assets. welcome to "bbc news." scotland's first minister says that independence for his country is all inevitable. spending $8 million on -- spending $8 billion on a phone company is a great deal. bill gates discusses the transaction. dominique strauss-kahn is facing charges of sexual assault is not in a position to run the international monetary fund which is the view of the treasury secretary, timothy geithner error. -- timothytimothy geithner air. more details have come out about the alleged victim. >> there is no way in which there is any aspect of this event which could be construed to be consensual in any manner. this is nothing other than a physical sexual assault by this man on this young woman. >> our correspondent gave us more details about the case. >> the 32-year-old west african immigrant living in the bronx with her daughter. we heard from jeffrey shapiro, her lawyer, and heard abo

she's the french finance minister and could be the first ever female chief of the imf. jim bitterman sat down with ms. lagarde to ask her what she might bring to the imf's top job. >> i tell you what i bring, i think, to the fund if i was elected. i'm a lawyer by background. and i have that set of legal skills. i'm a leader by temper and attitude and professional experience. i'm also a person that can reach out and reach consensus. i'm a person that expects others to shine and bring their talent to resolving problems. on the top of which having been 25 years in private practice and having led a very large institution, although in the private sector, baker mckenzie, one of the largest law firms in the world, i've been the minister of finance for france for the last four years. you know, we've traveled the tempest, not too badly. the crisis did not hit france as hard as it hit other countries. >> in your announcement, why did you emphasize you were bringing your expertise as a lawyer and enterprise but also as a woman. what was the point of that? >> i made the point about

strauss-kahn resigned from the imf wednesday. prosecutors say the case against him is growing. >> the complainant in this case has offered a compelling and unwavering story about what occurred in the defendant's room. >> reporter: defense attorneys say strauss-kahn will plead not guilty. if convicted, he could face more than 25 years in prison. ines ferre for cbs news, new york. >>> now to lance armstrong, who won more tour de france races than anyone in history. his critics have long said he could not have done it without cheating. something he strongly denies. but now one of his former teammates tells "60 minutes" that armstrong did take a banned drug. armen keteyian reports. >> armstrong wins -- >> reporter: in the face of more than a decade of accusations and investigations there was a line seven-time tour de france champion lance armstrong says he never crossed, the use of illegal performance enhancing drugs. >> i have never doped. i can say it again. but i've said it for seven years. it doesn't help. >> reporter: but now in