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Argument: EMF is not a short-term solution to immediate crisis

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Supporting quotations

Matthew Saltmarsh. "Proposal for European Monetary Fund Meets Resistance." New York Times. March 2010: "'It does not appear to me to be the absolute priority in the short term,' Ms. Lagarde said on the sidelines of a banking event here. 'If it is simply meant to strengthen the European mechanisms already in place to govern finances, then it is not helpful, in my opinion, to stir up the polemic.' That sentiment was echoed by Axel A. Weber, the chief of the Bundesbank, or German central bank. 'It’s not helpful to talk about ways to institutionalize help when the question is how to implement the budget reforms,' he said, according to a Reuters report from Frankfurt."

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