Tag Archives: IMF

German showdown with IMF looms as Bundestag blocks rescue funds

Germany’s ruling parties are to introduce a resolution in parliament blocking any further boost to the EU’s bail-out machinery, vastly complicating Greece’s rescue package and risking a major clash with the International Monetary Fund.

Chancellor Angela Merkel's office said an increase in the ESM was 'not necessary' since Italian and Spanish bond markets have already recovered Photo: AP

From The Telegraph, By , and Louise Armitstead, 10:25PM GMT 23 Feb 2012 –

Ambrose Evans-Prichard

“European solidarity is not an end in itself and should not be a one-way street. Germany’s engagement has reached it limits,” said the text, drafted by Chancellor Angela Merkel’s Christian Democrats and Free Democrat (FDP) allies.

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