TEXT OF STORY

MARK AUSTIN THOMAS: Paul Wolfowitz will leave his post as president of the World Bank at the end of the month, however this morning President Bush will announce his choice to be the new bank president: Robert Zoellick.

Zoellick was formerly the number two official at the State Department and was also a U.S. trade representative. He’s known for his high level contacts with Europe, China and Africa.

Colin Bradford at the Brookings Institution says Europeans have had a chance to give their opinions before word of the nomination was leaked.

COLIN BRADFORD: Robert Zoellick did play a key role when he was at the State Department in negotiating on the reunification of Germany, so he obviously has strong official ties with Germany and I think that’s all going to be to the good.

Bradford also thinks the World Bank will benefit from Zoellick’s experience as a U.S trade representative.

RADFORD: The interesting thing about his appointment is that the bank has been vocal on the issue about trade and the importance of trade liberalization and I think he will bring a new realism and sense of effort to that agenda.

Wolfowitz steps down following an ethics scandal involving his efforts to get a new job and pay raise for his girlfriend.

Stories You Might Like

Trump to sign executive orders targeting trade abuses

Let’s do the numbers: the U.S. relationship with Germany

White House delays tariffs on EU, Canada and Mexico

The power dynamics between the U.S. and China at this week’s trade meeting

Trump vows more sanctions over North Korea’s nuclear buildup

Your tariff questions, answered