The European Monetary Fund
Lessons from the IMF

President Macron has suggested that the “European Stability Mechanism“ (ESM) should be renamed “European Monetary Fund“ (EMF). Berlin (Schäuble, Merkel, Scholz) and the European Commission agree to this proposal. The EMF has been a French project since the time of Raymond Barre (1968) and Giscard d’Estaing (1978), and in July 2011 President Sarkozy triumphantly called the ESM “the beginning of a European Monetary Fund“.

“The European Monetary Fund
Lessons from the IMF
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