I.M.F. Bailout Conflicts for E.U.

The European Union is looking toward the International Monetary Fund (or I.M.F.) to bail Greece out of its financial crisis, but they are leery of appealing to this organization because it could hurt the pride of the EU. Countries such as Paris, firmly believe that Greece’s debt problem should be solved by European tax-payers. Whereas Germany does not want to bailout Greece and would rather turn to the I.M.F. Little can be done for Greece within Europe without Germany's help, so tensions are high between Paris and Germany. The United States has an important role in the I.M.F., so turning to this organization is seen as embarrassing to some members on the EU. They want Greece's debt problem to be solved within Europe and feel that reaching outside of it will lessen the credibility of the entire euro-zone.
NY Times Article