The head of the IMF for a European Monetary Fund

Director of the International Monetary Fund (IMF) Managing Director Dominique Strauss-Kahn said the creation of the European Monetary Fund (EMF) is appropriate. Recall that the purpose of the EMF - to be able to assist countries in the eurozone, which have economic problems. "This idea should be developed," - said the head of the IMF, speaking before members of the European Parliament committee on economy and monetary policy. In future crises are inevitable. In order to get out of them unscathed need money. At the same time helping companies or countries should be provided not by taxpayers but at the expense of the financial sector, said Strauss-Kahn said. The European Commission has recently begun discussing the project to create EMF, which can be developed until the end of the Spanish Presidency of the EU, that is, until July of this year already. European Commissioner for Economic and Monetary Affairs Olli Rehn said in an interview with Financial Times Deutschland, that the Commission is ready to offer a European instrument, which has support for euro area members. The European Commission noted that the creation of EMF will require appropriate changes in the Treaty of Lisbon on reforming the institutions of the EU authorities. In the Commission's claim that EMF is not considered, in principle, the European Union as a rival to the IMF.