Arab Today, arab today italy in favour of a european monetary fund
Last Updated : GMT 13:27:38
Arab Today, arab today
Arab Today, arab today

Italy in favour of a European Monetary Fund

Arab Today, arab today

Arab Today, arab today Italy in favour of a European Monetary Fund

Italian Finance Minister Pier Carlo Padoan
Rome - AFP

Italy is in favour of tighter European integration and the creation of a European Monetary Fund, its finance minister said Tuesday.

"The monetary union will sooner or later have to be based on common elements... in my opinion a European monetary fund, an insurance mechanism against the shocks of the labour markets, shared budget resources," Pier Carlo Padoan said.

"If this does not happen, the monetary union will remain stuck in the middle of the river... and risks being hit by a more violent wave and being washed away," he said in the wake of the economic crisis which left several members at risk of crashing out of the eurozone.

"It is what economists call 'risk-sharing', the sharing of risks which has made the monetary union stronger over the years... sharing resources, both financial and political," he said at a press conference.

Padoan's comments followed calls earlier this year from Portugal for the creation of an EMF to take over the role played by the Washington-based International Monetary Fund during the economic crisis.

Portugal, which had a full EU-IMF bailout in 2011, says an EMF would mean countries in trouble -- like Greece -- would only have to deal with one institution rather than relying on the approval of national parliaments.

The idea for an EMF was first put forward in 2010 and initially endorsed by Germany and France as a potential rescue fund to help member countries cope with future financial troubles, but critics said it risked undermining rather than enhancing EU stability.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today italy in favour of a european monetary fund Arab Today, arab today italy in favour of a european monetary fund

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today italy in favour of a european monetary fund Arab Today, arab today italy in favour of a european monetary fund

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
Arab Today, arab today Sally Shaheen considers hosting a political show
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday