The first of these conditions is the rigorous implementation of budgetary consolidation and growth-enhancing structural reforms in the member states of European Monetary Union. 2. The second is a reform of the framework of the European Monetary Union that takes recent experience into account. 3. The third condition is further progress in financial regulation.
And for the rare instances where some criticism of the Fund was articulated today, it was certainly in the spirit of the famous German poet, Heinrich Heine, who once remarked that only “he profits from praise, who values criticism”.