The International Monetary Fund is considering putting funds toward a separate bail-out program for ailing European nations, depending on what conclusions are made in the meeting in Brussels.
The IMF declined to comment the matter when question on Monday as no official proposal has been presented by the EC as of yet.
Officials from the IMF said that a European Monetary fund with the capacity to offer financial aid to governments would be in competition with the IMF but rather an added level of support.
Greek Prime Minister George Papandreou commented on the possibility of the EMF, saying: “What we are talking about now is creating an ad hoc instrument which will help the Greek economy if in need and we want to borrow.”
Greece has said that should other European nations not wish to support them through the debt crisis that they could rely on the IMF.
The IMF has spoken on the matter, noting that Greece’s strategy to rectify its public finance appeared “very strong,” prompting the group to offer technical assistance if needed.
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