Germany supports the need for a European Monetary Fund for emergency and the expulsion of the euro to countries that do not meet commitments
| Date: March 14, 2010 | Source: Europa Press |
| Category: Economy | |
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Loading ... German Finance Minister, Wolfgang Schauble, argues in an article published by Financial Times Deutschland the need to create a European Monetary Fund that can turn the eurozone countries in distress, but stressed that this aid should be confined to "cases of emergency "and under strict conditions, which suggests that countries that do not meet the commitments of the Eurogroup can see their voting rights suspended for at least a year.
Also, Schauble defends the possibility that the eurozone countries that fail to meet the fiscal and economic commitments of the single currency bloc may be forced to leave the euro as a measure of "last resort" but would continue as part of the European Union.
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