EU bailout boss: IMF not needed in future crises
The IMF was involved in Greece’s first two bailout programmes.
It is not involved in the payment of a first tranche of Athens’ third bailout, but may yet join the programme after a review in October.
Germany still wants the IMF involved in the latest bailout because of the economic rigour it brings more than for any financial help, sources have said.
However, Klaus Regling, head of the European Stability Mechanism (ESM), said that Europe could cope without the Washington-based fund when its comes to facing future crises.
“Europeans will be able to tackle on their own the next crisis, which will come in the coming decades,” Mr Regling told Der Spiegel.
“Co-operation between the ESM, EU Commission, and ECB is well practised.
Together they fulfil the tasks of a European monetary fund,” Mr Regling said.
The role of the IMF in the latest eurozone bailout, Greece’s third, is currently in question.
The IMF says Greece’s debt is not sustainable and that it does not want to participate unless there is some debt relief.
Last week, however, German finance minister Wolfgang Schäuble described IMF involvement in the programme as “indispensable”.
