Europe Should Tackle Emergencies by Itself, Says Bailout Fund Head

According to Klaus Regling, Europe's bailout fund head, the region was in need to stop taking assistance from the International Monetary Fund and do on its own, eventually.

Other European policymakers, as per the findings, have hinted that the aim of the bloc should be to manage all emergencies in future by itself. And the latest comments by Regling also indicate the same.

The European Central Bank, IMF and the European Union's executive Commission, have together worked to handle Greece bailouts and of three others over the last three years. The report but found that IMF's concerns gave rise to tensions.

The IMF was concerned for the European's attitude to the Greek rescue. Regling said that the expertise of the IMF was required in short as well as long run.

Head of the International Monetary Fund, Christine Lagarde and Olli Rehn, economic and monetary affairs commissioner of the European Union, were good at teamwork. Now, they were doubtful if the same game plan was being followed to take out Europe of its economic crisis.

"I don't think it's fair and just for the IMF to wash its hands and throw the dirty water on the Europeans", said Rehn at a conference on Friday in Helsinki.