first of all regarding the proposal to have an emf this idea was put forward by the german finance minister without giving any details of such an institution
it seems however an interesting contribution to the current debate about the euro area
the emf is however a longer term proposal which may well require a change in the treaty
what we are working on is preparing some initiatives on reinforcing economic policy coordination and country surveillance
we cannot at this stage tell you what exactly will be the format of this
of course generally speaking as you said we support everything that moves towards increased economic governance but we have to see the exact details and make the proposal at the right time
that said the question of the emf could not solve the urgent issue of greece
it is a separate issue that requires more analysis and that is for a longer term
