German finance minister to present fund proposals soon. The European Commission has said it supports creating a European Monetary Fund (EMF) to help eurozone countries facing balance-of-payments difficulties. "The Commission is ready to propose such a European instrument for assistance, which would require the support of all euro area member states," a spokesman for Olli Rehn, the European commissioner for economic and monetary affairs, said. He said the Commission would present a formal proposal in the "next few months".
The European Commission has said it supports creating a European Monetary Fund (EMF) to help eurozone countries facing balance-of-payments difficulties.
"The Commission is ready to propose such a European instrument for assistance, which would require the support of all euro area member states," a spokesman for Olli Rehn, the European commissioner for economic and monetary affairs, said.
He said the Commission would present a formal proposal in the "next few months".
