Today EU finance minister will meet. EU is under pressure to minimize its current share within the IMF governing board. For the IMF - a relict of immediate post-WW2 - to keep up to changing dynamics in the world, 2 EU members from the governing board shall go, 2 new governing members will come. Turkey's voting shares within IMF already have been increased in 2006 and 2008. Still, Turkish voting share within IMF is only 25% of Belgium, which has half the size of economy of Turkey. Also Belgium is represented as executive director within IMF governing board. Babacan: Turkey likely to be elevated to IMF management 2 EU countries will go, South-Korea and Turkey will join as executive directors to the IMF governing board. The changes will be announced during next months G-20 meeting in South-Korea. The EU does not like reducing its representation within IMF. They snake around this issue. But whole world including the USA makes pressure. Now EU finance ministers are meeting to formulate a solution, allthough Reuters is reporting that EU will likely not agree to reduction of its role within IMF. IMF Chief: Europe Should Make Room On Board For Turkey, Others IMF Chief: Europe Should Make Room On Board For Turkey, Others - WSJ.com Being in the governing board as executive director simply means to participate in the decisions how this major international Organization functions. A Reuters article said, that in 2009 the IMF gave 200 billion $ credits, and it has already freed another 800 billion $ to be made available to crisis countries. If a country is in the inner decision circle how applicants for credits are viewed, then this gives those countries leverage over the applicants. No reason for some European countries to be granted such leverage if their economic size does not qualify them to sit on that table. World is changeing. Good for South-Korea and Turkey.