Merkel: Proposed EMF would require new treaty

German chancellor Angela Merkel believes the proposed formation of a new agency to provide financial help to EU member states would require an amendment to the Lisbon Treaty.

German chancellor Angela Merkel believes the proposed formation of a new agency to provide financial help to EU member states would require an amendment to the Lisbon Treaty.

The so-called European Monetary Fund (EMF) would have extensive powers to monitor public finances and provide aid in the case of a member state struggling to pay its debts.

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