BRUSSELS (Sputnik) — On Monday, Eurogroup President Jeroen Dijsselbloem said in an interview to the Frankfurter Allgemeine Zeitung that the European Stability Mechanism (ESM) should be turned into a European version of the International Monetary Fund (IMF).
“I would say that I am not shocked by the proposal, that the ESM is developing, is getting more expertise, and is even more than today involved in the management of programs. And why not the European Monetary Fund? I think, it’s an open debate,” Moscovici said at a press conference on Monday following the Eurogroup meeting.
The ESM is the bailout fund, which provides financial assistance to eurozone countries experiencing or threatened by financial difficulties in order to ensure the financial stability of the eurozone as a whole.