edao
Elite member
Do you think the creation of the EMF a good idea?
"The difficulties facing Greece and other European borrowers expose two big failures of discipline at the heart of the euro zone. The first is a failure to encourage member governments to maintain control of their finances. The second, and more overlooked, is a failure to allow for an orderly sovereign default. To address these issues, we propose a new euro-area institution, which we dub the European Monetary Fund (EMF)."
http://www.economist.com/blogs/freeexchange/2010/02/emf_roundtable
"Prime Minister George A. Papandreou of Greece reiterated Monday in Washington that he would not rule out turning to the International Monetary Fund for help. But he also said the concept of a European fund had merit. “The more there is a European solution to a theoretical, but possible, problem in the markets, the less we will have to talk about an I.M.F. solution,” he said."
"The difficulties facing Greece and other European borrowers expose two big failures of discipline at the heart of the euro zone. The first is a failure to encourage member governments to maintain control of their finances. The second, and more overlooked, is a failure to allow for an orderly sovereign default. To address these issues, we propose a new euro-area institution, which we dub the European Monetary Fund (EMF)."
http://www.economist.com/blogs/freeexchange/2010/02/emf_roundtable
"Prime Minister George A. Papandreou of Greece reiterated Monday in Washington that he would not rule out turning to the International Monetary Fund for help. But he also said the concept of a European fund had merit. “The more there is a European solution to a theoretical, but possible, problem in the markets, the less we will have to talk about an I.M.F. solution,” he said."