Germany is making plans for a European Monetary Fund that would act as a counterpart to the International Monetary Fund (IMF), according to sources in the German finance ministry.
Berlin wants funds to be dispersed without strings attached only in the case of an extra-systemic shock that is beyond a country’s political control. Technically, these no-string loans would be dispersed to countries with a deficit below 3% -- or with at least 0.5% consolidation each year, for three years – and a debt...
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