IMF chief says ‘Why not?’ to European Monetary Fund plan: paper


VIENNA (Reuters) – International Monetary Fund chief Christine Lagarde has no objection to plans to turn the euro zone’s bailout fund into a European Monetary Fund, she said in comments published on Saturday.

The European Commission has suggested transforming the role of the government-controlled European Stability Mechanism (ESM) into a full-blown European Monetary Fund under parliamentary control and anchored in European Union law, which would also become a backstop for the euro zone’s bank resolution fund.

Source: IMF chief says ‘Why not?’ to European Monetary Fund plan: paper