Sources: Germany, France will push for European Monetary Fund

03/8/2010 | Financial Times (tiered subscription model)

Greece's debt woes and the instability they caused in the euro zone prompted Germany and France to work on a measure to prevent recurrences, government officials said. The plans include the creation of the European Monetary Fund, modelled on the International Monetary Fund. "I am in favour of stronger coordination of economic policies in the EU and in the euro zone," said German Finance Minister Wolfgang Schäuble as he revealed initial details of the plans.

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