US Treasury Secretary Timothy Geithner could leave his seat shortly. CNN revealed it today, specifying that the sensational farewell should come after the agreement to raise the US debt ceiling. In any case, as long as the negotiations on the most important measure to avoid the risk of technical default continue, no final decision will be taken.
However, it would be yet another excellent defection in the Obama administration, of which Geithner is now the last survivor of the original economic team. In the past two years, the directors of the National Economic Council, the Office of Management and the Economic Advisory Council have already jumped ship. Yet, other sources interviewed by American television underline that there could be obstacles between Geithner and a career in the private or academic sector. Given the importance of the post, the minister could not resign before having identified a worthy successor together with the president.
And here would be the difficult part, given the absolute scarcity of young Democrats potentially up to the task. Especially since Geithner has long since earned the esteem of the entire establishment: "Despite the incredible position in which he found himself - Bill Clinton said of him - so far he has done a really good job".
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