EC to propose European version of IMF
09/03/2010
BRUSSELS, Belgium -- EU Economic and Monetary Affairs Commissioner Olli Rehn plans to brief the European Commission (EC) on Tuesday (March 9th) about a proposal to establish an EU version of the IMF. Rehn spokesman Amadeu Altafaj Tardio said the proposal aims to "reinforce economic co-ordination and country surveillance" across Europe, particularly in the Eurozone, shaken lately by Greece's financial crisis. In an interview Monday with Financial Times Deutschland, Rehn explained that providing financial aid through loans or guarantees via such an instrument would involve "strict conditions". (AFP, Financial Times - 08/03/10)