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The changes to the fund need to be approved in all 17 European Union countries that use the euro.
The planned changes to the fund also include demanding better corporate governance from Japan's large companies.Already, the markets are anticipating the effect of the slow shift in direction.
Mr. Spitzer -- whose investigation of Wall Street research led to a $1.4 billion settlement with major investment banks that, by coincidence, received federal court approval this week -- hopes to bring broad changes to the fund industry as well.
She saw off an attempt by activist investor Laxey Partners to overhaul the company, although at the end of last year she herself made changes to the fund management team overseeing £2.6bn of assets to try to bolster its performance.
The debate may intensify once the last countries ratify changes to the fund that are needed to allow it to act more flexibly and talks start on leveraging it, which could allow for a Greek restructuring faster than most had imagined.
member, but the only one that can unilaterally block changes to the fund's governing structure, which require 85 percent of total votes.
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Guterres wants to see rapid changes to the funding system.
Changes to the funding system have already begun with the introduction of transitional housing benefit.
The initial proposed changes to the funding formula would have addressed concerns about the underfunding of inner-city forces compared to rural ones.
"We will have to look at whether the changes to the funding system affect certain groups of applicants more than others," she said.
A "perfect storm" of conditions were cited, including employer demand dampened by the recession, and the 2012 changes to the funding system and associated fee increases.
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