Former International Monetary Fund chief Dominique Strauss-Kahn, looking to re-establish his credentials as a global political presence after a sex scandal, sharply criticized Europe's handling of its debt crisis and predicted as many as seven years of subpar European growth unless the Continent's leaders changed policies.
Europe's political shortcomings are "bleeding away, day by day, the remaining confidence investors may have in politicians being able to solve the crisis," Mr. Strauss-Kahn said. A €640 billion rescue fund (about $833 billion) being assembled by the European Union and the IMF is "in limbo" because it requires political approvals that may take months to obtain, he added.
He chose a conference in Beijing organized by a Chinese Internet company, NetEase.com Inc., to make his remarks, the first since he resigned under pressure earlier this year. Neither Mr. Strauss-Kahn nor the conference organizers would say how much he was paid for the address.
In his speech, He said Europe's leaders had focused too heavily on the Continent's debt problems and insufficiently on growth—though the IMF under his leadership had insisted that European nations cut social spending in exchange for IMF loans.
For more: Strauss-Kahn: Euro Collapse Not a Solution - WSJ.com
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