The first question can be found online. If you watch carefully, you will know that this is not difficult to understand. It's hard to make it completely clear in one or two sentences. I will attach some to you later, and I will tell you the second question first. I'm also studying this problem. Grasping the key points is to promote the establishment of EMF, which will help weaken the role of IMF and benefit China.

1, EMF is the full name of the European Monetary Fund, but it does not exist. EMF was put forward by some senior EU officials in March this year according to the name of IMF. The EU hopes to establish a European Monetary Fund to deal with the Greek debt crisis, just like the IMF.

2. The Greek debt crisis has completely exposed the inherent defects of the financial system in the euro zone: Greece without monetary sovereignty is difficult to save itself, and the non-bailout clause written into the law by the European Union prohibits the European Central Bank from covering for its member States. The euro zone has only achieved the unification of monetary policy, but not fiscal policy. This dual structure leads to the lack of financial supervision and intervention in euro zone member countries. The main purpose of EMF concept is to make up for the defects of the euro zone financial system. Let Europe help Greece through the crisis.

There is a clause in the Maastricht Treaty called "no bailout clause". Article 104 of the Treaty clearly stipulates that the European Central Bank and the central banks of member countries are prohibited from providing overdraft or similar overdraft loans to member countries or public institutions. Prohibit the European Central Bank and the central banks of member countries from purchasing bonds directly from these institutions; It is forbidden for the European Central Bank to accept or seek rescue instructions from other institutions.

4. Comparison between 4.IMF and EMF: 1. Mode of contribution: IMF is a proportional contribution of all member countries, and EMF only requires those countries that violate EU fiscal discipline to pay. 2.EMF has compulsory measures. 3.EMF has a "bankruptcy mechanism", similar to the provisions on bankruptcy protection in the United States. In case of a country's debt default, EMF can buy the country's national debt at a discount to avoid systemic losses.

Generally speaking, the International Monetary Fund is like an association. Every member has to pay a membership fee. The amount of membership dues determines how much voting and decision-making power you have in this association. Of course, all members here are countries. Look carefully below, I believe you will understand.

All IMF member countries are required to pay a quota according to regulations, and the quota is determined by the IMF after consulting with member countries with reference to many economic factors. These factors mainly reflect the relative economic scale of member countries, including GDP and national income level, average import and export volume, export change rate, current account balance, official reserves and the proportion of exports to GNP.

The share of each member country is represented by the Special Drawing Right (SDR), which is the accounting unit of the International Monetary Fund.

According to IMF regulations, 25% of the member countries' shares are initially paid in gold, and the remaining 75% are paid in their own currencies. 1 978 April1day, the second amendment agreement of the international monetary fund, with Jamaica agreement as the main content, was passed, and the provision of payment in gold was cancelled, and 25% was paid in SDR or convertible currency.

The International Monetary Fund has become the owner of a large number of gold and member currencies. This is the main source of funds for IMF to provide balance-of-payments adjustment loans to member countries. For example, Kenya's balance of payments is in deficit, and because the foreign exchange reserves held by the country's central bank are very limited, it urgently needs sterling financing to pay for its imports from Britain. In this way, the Kenyan government can withdraw or borrow pounds from its account in the IMF, and the IMF has a certain amount of pounds because of the share paid by the British government.

The voting rights of the United States, Japan, Germany, France and Britain account for 38.93% of the total voting rights of the IMF. The United States is the largest shareholder of the IMF, with 260,000 votes, accounting for 20% of the total voting rights. Therefore, the United States has an absolute advantage in the voting system of the IMF.

Therefore, the IMF is basically controlled by the United States and is often used to interfere with China's overseas investment projects and safeguard the interests of the United States.