Extracts from the EC midday press briefing by Amadeu Altafaj Tardio, spokesperson of Olli Rehn, on the European Monetary Fund
On 8 March 2010 at the midday press briefing, Amadeu Altafaj Tardio, spokesperson of Olli Rehn, Member of the EC in charge of Economic and Monetary Affairs, told journalists that the European Commission was ready to propose the establishment of a European Monetary Fund (EMF) for assistance.
This economic instrument required the support of all euro area Member States, and was based on rigorous conditionality.
In parallel, the Commission was preparing a communication on reinforced economic policy coordination, and country surveillance, to make sure that a crisis like the Greek, one never happens again. SHOTLIST