Consider the evidence: it’s the IMF/World Bank spring meetings this coming weekend in Washington. Big emerging market countries, mainly in Asia, have been pushing for a higher voting weight on the executive boards of the Fund and Bank. Standing in their way are the Europeans, who would have to give up some of their influence. And the week of the meetings, it just so happens that a volcanic ash cloud threatens to keep the Europeans away altogether and let Asia grab a lot more of the attention.
I’m not necessarily saying I have cast-iron proof from two sources that the Asians got the volcano to erupt somehow. I’m saying it’s mightily convenient, that’s all. Read more