A single EU seat in the IMF?

Article abstract:

This article examines the rationale for consolidating EU Member States' position in the International Monetary Fund (IMF). Although a substantial amount of co-ordination already takes place, particularly on issues related to the euro area and the single monetary and exchange rate policy, co-operation between EU countries in the IMF remains a relatively new phenomenon and divergences still prevail. The current institutional set-up, whereby the 15 EU countries are spread in nine constituencies, undermines effectiveness. Although there is scope for further improving co-operation, there are natural limits to what can be achieved within the existing co-operation framework. A single EU constituency would enable EU Member States to have a strong impact on IMF policies, potentially as strong as that of the US. However, this may not be an objective for all EU countries in the current conjuncture.

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