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The Big Picture

Toward a European Monetary Fund?

For eurozone reformers, the current period of synchronized growth is an ideal time to push ahead with deeper integration, starting with a transformation of the European Stability Mechanism into a full-fledged European Monetary Fund. But is an IMF-style institution really what the eurozone needs?

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Emmanuel Macron and President of the European Commission Jean-Claude Juncker John Macdougall/Getty Images
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