To France's delighted president, Nicolas Sarkozy, this was the birth of a European Monetary Fund.
If Europe snubs the IMF, it may eventually need to set up a clone a European Monetary Fund to deal with future funding crises.
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Lord Myners told peers that the UK was "not part" of discussions taking place among eurozone states about the prospect of a European monetary fund.
You'll remember, that agreement said the emergency bailout facility, the EFSF, would henceforth play the role of "European Monetary Fund", able to intervene in markets to keep borrowing costs for solvent governments under control.
There is chatter in the markets about the ECB stepping in to "fill in" for the EFSF, while the governments pass the legislation needed to turn it into that "European Monetary Fund" which President Sarkozy promised last month.
On this plan, the EFSF could then be a proper European Monetary Fund, with one side managing adjustment programmes and (where necessary) orderly debt restructuring, and the other side using ECB liquidity to support confidence in solvent but troubled governments, by buying their bonds on the secondary market.
Should a working majority emerge under the leadership of the New Democracy Party, Greece may follow through with the next tranche of public spending cuts demanded by its "troika" of creditors: the European Commission, the International Monetary Fund and the European Central Bank.
There are reports the European Union and International Monetary Fund have reached a debt relief deal with Greece.
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The current European Union and International Monetary Fund plan to revive the Greek economy and its finances has failed.
While European Union, International Monetary Fund and Greek officials last week agreed upon a rescue plan for Greece, that plan needs to be approved by the Greek parliament.
It is not (yet) formally off track in its joint European Union-International Monetary Fund adjustment programme, and there's no big "forcing" event coming up to concentrate their minds.
The passage was necessary to move the country closer to obtaining a delayed 12 billion-euro installment of the 110 billion-euro rescue plan from the European Union and International Monetary Fund.
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There are reports the European Union and International Monetary Fund have reached a debt relief agreement with Greece, without the debt restructuring that would have upset some EU member countries.
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Those demands from Europe are also at the heart of Greece's political turmoil as voters in the heavily indebted nation revolt against the harsh budget-cutting medicine doled out by the European Union and International Monetary Fund.
European Union, International Monetary Fund and Greek officials last week agreed upon a rescue plan for Greece, and that plan and austerity measures had to be approved by the Greek parliament before the aid plan goes into effect.
Passing more measures -- essential if Greece is to continue receiving money under a bailout deal from the European Union and International Monetary Fund -- is likely to be more difficult in a strongly fragmented parliament, especially as many of the smaller parties that are likely to enter the legislature oppose the bailout.
The troika is made up of the European Commission, European Central Bank and International Monetary Fund.
Debt-strapped Greece is receiving billions of euros in rescue loans from other European countries and the International Monetary Fund.
Officials from the European Union and the International Monetary Fund are in talks this week to decide the size.
The European Commission and the International Monetary Fund both now estimate that in 2009 Italy's GDP will shrink by 4.4%.
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Greece was the first of three eurozone countries to request financial assistance from the European Union and the International Monetary Fund.
In return, the European Union and the International Monetary Fund have committed to 240bn euros since 2010 in rescue loans for recession-hit Greece.
Much of the early-week focus will be on a meeting of eurozone finance ministers, the International Monetary Fund and European Central Bank scheduled for Monday.
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The forint has come under pressure after the country passed a controversial central-bank law Friday, drawing criticism from the European Union and the International Monetary Fund.
No wonder international bureaucracies such as the International Monetary fund and European Central Bank are producing research showing that spending discipline is the right approach.
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Mr. Samaras will face his first test in the coming weeks, when he'll have to begin talks with bailout monitors from the European Union and the International Monetary Fund.
Greece, Ireland and Portugal have been effectively shut out of borrowing long term on international financial markets, which forced them to seek help from European partners and the International Monetary Fund.
If approved by the "troika" -- officials from the EU, European Central Bank and International Monetary Fund -- the plan would be put to a vote in parliament later in the day.
The main sticking point is a law passed last year that the EU, European Central Bank and International Monetary Fund believe jeopardizes the independence of Hungary's central bank, the Magyar Nemzeti Bank.
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