ATHENS, Greece (AP) – French President Emmanuel Macron said Thursday that the International Monetary Fund should step back from its role in European bailouts – breaking with a widely accepted policy adopted when Greece sought international help seven years ago.
On a two-day visit to Athens, Macron said the eurozone rescue fund, the European Stability Mechanism, should play the lead role in financial rescue within the currency zone.
France, Europe’s No. 2 economy, had previously backed Germany’s insistence in involving the IMF to enforce austerity measures that came with bailout programs in Greece and other rescued economies including Ireland, Portugal and Cyprus.
But on Thursday, Macron told reporters: “I don’t think it was the right method for the IMF to supervise European programs and intervene in the way it did … Let’s work within Europe and not turn to outside agencies.”
Macron made the remarks after meeting Greek Prime Minister Alexis Tsipras and before delivering a speech on Europe’s future on a hill facing the ancient Acropolis in Athens.