The odds of world bank president Paul Wolfowitz resigning are getting shorter, according to figures from intrade.com published in the Village Voice.

US Treasury Secretary Hank Paulson has come out in defence of Wolfowitz, saying he needs a fair hearing.

"He is a dedicated and committed public servant," Paulson told Bloomberg. "I very much admire what he has done at the World Bank in terms of fighting poverty.'' A little matter about a conflict of interest has been glossed over.

The Bloomberg piece also let's us know that US Secretary of State Condoleezza Rice has been lobbying on Wolfowitz's behalf.

Wolfowitz might need all the friends he can get but it looks like a hopeless cause.

European leaders have given the Bush administration an ultimatum: either Wolfowitz goes or the Bank's board moves a vote of no confidence next week, reports the New York Times.

The clock's ticking and the odds aren't looking good. Looks like it's now just a matter of time.