German MOF:European Monetary Fund Isn’t Short-Term Measure
Category Insurance | Monday, March 8th, 2010BERLIN (Dow Jones)–A proposal by German Finance Minister Wolfgang Schaeuble to set up a European Monetary Fund in light of Greece’s financial problems isn’t a short-term measure but should be seen as a topic for general discussion, German Finance Ministry spokesman Michael Offer said Monday.
The EMF proposal isn’t designed to solve the Greek issue in the short term but is more of an overall concept, Offer said. He declined to give any more details and added that the minister will make a more detailed proposal in the near future.
“We want to coordinate further ideas nationally and internationally with our partners, and our most important EU [European Union] partner is France,” Offer told reporters.