SZ: Schaeuble eyeing 'European Monetary Fund' for over-indebted EZ members; default clause included

Suddeutsche Zeitung on Sunday reported that powerful German Finance Minister Wolfgang Schaeuble is promoting the creation of a “European Monetary Fund” which will, according to the same report, act as a lender to the Eurozone’s over-indebted countries, but under the condition that they follow a structured default.
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