The Americans and Europeans have, like the Bourbons, learnt nothing and forgotten nothing. They still insist on their outdated droit de seigneur at the World Bank and International Monetary Fund, even though it brings them little benefit, beyond the exercise of patronage. In Robert Zoellick, however, the US has at least found a qualified candidate. Even so, the board should not wave his appointment through. In the interests of both candidate and institution, they should examine him thoroughly.

After the disastrous ending to the presidency of Paul Wolfowitz, the bank desperately needs a credible and effective leader. The new boss must heal the wounds that have opened up both between management and staff and within the board. He needs to provide a sense of direction, clear leadership and effective management. He needs, not least, to adapt an institution now 61 years old to the entirely different conditions of today.