JOIN USFrom International Monetary Fund (IMF) chief and a French presidential hopeful to an inmate at New York’s notorious Riker’s prison, it has been a dramatic reversal of fortune for Dominque Strauss-Kahn. Within hours of his arrest on charges of sexually assaulting and attempting to rape a maid in a Manhattan hotel, the world was talking of Strauss-Kahn in the past tense; so serious is the impact of the charges that he has been forced to quit his post as the IMF chief.
He faces seven serious charges and could be sentenced up to 25 years in jail. Meanwhile, another allegation of sexual assault dating back to 2002 could be levelled against him. A French writer has said that Strauss-Kahn tried to rape her when she went to interview him. The French media has drawn attention to his ‘colourful’ life, which involved many ‘sexual indiscretions.’
He was assiduously courted by major European leaders who were keen on robust IMF involvement to bail out countries in crisis. He played a key role in addressing the eurozone crisis. He pushed countries to trim their debt. His exit has left Europe wondering whether his successor will engage on the debt crisis with similar vigour. More important is his effort to make the IMF a more inclusive institution. The Asian countries, which have been pressing for reforms of international monetary institutions, may now stake a claim for the post vacated by Strauss-Khan.
The impact of Strauss-Kahn’s arrest will be felt most in France. He was expected to be the Socialists’ candidate in the 2012 presidential polls. He was widely looked upon as the only person who could unseat president Sarkozy. This has prompted some of his supporters in France to wonder whether he was framed, either by the extreme right or extreme left.
A reputation of being a ‘ladies man’ would not have tripped up Strauss-Kahn’s presidential ambitions. On the contrary, in France, it might have even given his chances a boost. What Strauss-Kahn faces however are allegations of sexual assault and attempted rape. Even the French, known for their immense tolerance of ‘indiscretions’, will not stomach this from their president. Unless he is able to clear his name in the next few days by some miracle, it is the end of the road for Strauss-Kahn.