Germany expressed support for creating a "European Monetary Fund" that could bail out indebted nations in the euro zone, showing how Greece's debt crisis is forcing Europe to rethink the institutional design of its common-currency area.
German Finance Minister Wolfgang Schäuble said he would "present proposals soon" for a new euro-zone institution that has "comparable powers of intervention" to the International Monetary Fund.
In an interview with German newspaper Welt am Sonntag, Mr. Schäuble said the euro zone should draw lessons from the Greek crisis, which has exposed the region's lack of tools for dealing with a member country at risk of defaulting.
For more: Germany Backs European Version of IMF - WSJ.com
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