Euro Rises on Greece Support; European Monetary Fund on Horizon?
March 8, 2010 /EIN PRESSWIRE/ Increased confidence in Greece’s financial situation helped the euro to early gains Monday.
French President Nicolas Sarkozy put market speculators on notice Sunday and also suggested that the eurozone countries would bail out Greece if its financial problems worsened.
The International Monetary Fund managing director said that the debt problems in Greece were not likely to spread to other eurozone countries, such as Spain, Ireland and Portugal, that have excessive public debt.
Is there a new monetary fund on the horizon? The Financial Times reported that Germany and France are looking to propose the establishment of a European Monetary Fund and stronger eurozone economic monitoring and cooperation.
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