2014 Event The U.S. Federal Reserve announces that it will end its current monetary policy of quantitative easing by ceasing bond purchases after October of this year 2012 Event The Philippines lends $1 billion to the International Monetary Fund 2012 Event Following some controversial remarks, Christine Lagarde, head of the International Monetary Fund, is accused of 'insulting the Greek people' 2011 Event The International Monetary Fund approves a new three-year loan for Haiti worth $60 million, canceling Haiti's $268 million debt 2011 Event Following the resignation of Dominique Strass-Kahn, France finance minister Christine Lagarde becomes the new head of the International Monetary Fund 2011 Event In Greece, Police fire tear gas on protesters angry over cuts their government made in co-operation with the European Union and the International Monetary Fund 2011 Event French Minister of Finance, Christine Lagarde, declares her candidacy as head of the International Monetary Fund 2011 Event At a meeting in Nanjing, China, U.S. Treasury Secretary Timothy Geithner says the main problem in the world's monetary system is countries that inhibit the free flow of the value of their currency 2010 Event A loan of 22.5bn euro to the Republic of Ireland is approved by the International Monetary Fund 2010 Event Ireland presents its 15 billion euro austerity package to secure a financial bailout from European Union and the International Monetary Fund 2010 Event The European Union and International Monetary Fund present Greece with 120 billion Euro bailout package to help rid them of their sovereign debt 1990 Event 2 Germanys sign a monetary union treaty 1979 Event European Monetary System is established, ECU created 1978 Event EG decides establishes EMS, European Monetary System 1976 Event Arabic Monetary Fund established in Abu Dhabi 1967 Event International Monetary Fund reforms world monetary system 1963 Event U.S. bans all monetary transactions with Cuba 1947 Event International Monetary Fund begins operation 1945 Event International Monetary Fund established - World Bank founded