The Future of the European Monetary Fund: Any Prospects?
The European summit last week has resulted in a compromise short-term agreement for aid to Greece.
The agreement sees aid coming from the International Monetary Fund (IMF) and bilateral agreements with the 15 other members of the eurozone, the latter providing the majority of assistance. If this is a short-term fix, what are possible medium and long-term solutions? In this context of recent economic instability in the euro-zone, Germany has recently proposed the formation of a European Monetary Fund (EMF) which would theoretically be styled after the IMF. What would a possible EMF look like? What challenges is the EMF likely to face?
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The Future of the European Monetary Fund: Any Prospects?
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