Euro zone’s Dijsselbloem calls for ESM to be turned into a European IMF

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Euro zone’s Dijsselbloem calls for ESM to be...
 © In-Cyprus 2018
The European Stability Mechanism (ESM) – the euro zone’s bailout fund – should ultimately be turned into a European version of the International Monetary Fund, the head of euro zone finance ministers told a German newspaper.

“I think it would make a lot of sense for the euro zone bailout fund ESM to be developed into a European IMF in the medium to long term,” Jeroen Dijsselbloem told Monday’s edition of Frankfurter Allgemeine Zeitung.

He said that would also mean that Greece’s current “troika” of lenders – the European Commission, European Central Bank and the IMF – would need to be broken up in the longer term.

“The ECB feels increasingly uncomfortable in its troika role, and rightly so I think,” Dijsselbloem said, adding that the European Commission had other “important tasks” that it should concentrate on.

He said the ESM should “build up the technical expertise...


Euro zone’s Dijsselbloem calls for ESM to be turned into a European IMF


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